President Obama addressed the country last night in his annual State of the Union Address, where he put the economy, middle class and minimum wage front and center as central concerns for this administration. As a show of resolve, the White House announced that minimum pay for all future federal contact workers will be raised from $7.25 to $10.10, which could affect more than 200,000 employees.
In his speech, President Obama asked employers to not wait for Congress to act on a minimum wage increase, but to raise wages on their own saying that it’s time to, ” give Americans a raise”, and adding that no one who works full time should be forced to raise a family in poverty.
Because many of our members are either seeking jobs or have worked in jobs that would be impacted by such an increase, we wanted to hear from our them to better understand how raising the minimum wage would affect their lives. We asked, "If the national minimum wage was raised to $10.10, what would you do with increased pay?” After reaching out to 500,000 of our members, we got over 64,000 responses:
36% – Spend on bills
31% – Pay down debt
24% – Save it
6% – Go back to school
2% - Entertainment. Treat yourself
Click infographic for a larger image.
We also posed this question to our Snagajob Facebook fans and Twitter followers and saw many of the same results, but were also met with concern that if the minimum wage was raised, then all other expenses will also go up.
What do you think about this debate? Let us know below!