Wages and salaries grew at 0.2 percent in the second quarter of 2015, which was the slowest rate recorded in 33 years, according to data from the Bureau of Labor Statistics (BLS). This growth was down from the first quarter of 2015 when wages grew at 0.7 percent.
One businessman says that wages aren’t rising because of government intervention such as labor rules, wage laws, and environmental regulations, which could potentially harm his business.
“The rules are confusing, but one thing is clear: Companies of all sizes will have to expend money and time trying to understand and comply, not to mention deal with any lawsuits the change provokes,” says Bob Funk, CEO of Express Employment Professionals.
Funk says this money could be better used to increase employees’ wages and benefits or used to hire more employees.
“There is a disconnect today between what government experts say about the economy when they crunch the numbers and what employers throughout America say when they make hiring and wage decisions,” he says. “Businesses, small and large, are holding back.”
If the federal government wants to strengthen the economy, here's an idea: stop getting in the way of the businesses that actually add value and jobs to the market. Federal regulations are out of control, but We the People can do something about it. An Article V Convention of States can propose constitutional amendments that limit the power of D.C.'s regulatory army.