Minimum wage is not the answer.

The Government has to find new ways to LOWER the cost of living to ordinary Bahamians.

Also, Bahamians need to be more financially responsible as well. Most are too much in debt on consumer loans.

Spot on

Sadly, we have these politicians who do not understand economics or running a business at the heading of this country. Any wonder they do not understand cause and effect or seeing the big picture?

Well said. The cost of living is extremely high in the Bahamas so all an increase in minimum wage will do is drive the prices of everything up as it is a business cost and businesses aim to make a profit. Wages cut into that.

... if only they could find a way to increase employee productivity! Increase the MW and then watch unemployment increase too!

The hampstet wheel continues. Sheeprunner, I agree. They increase minimum wage, the businesses increase prices. Nib increases tax and the businesses increases the prices. Gas increases and the businesses increase prices. We need officials whom can think and use their economic and financial degrees.

An increase will only help for a week or two, until the business owners have to increase their prices. Some businesses will even increase their prices prior to having to pay higher wages.
As sheeprunner says, government needs to find ways to lower the cost of living - this will only increase it.

You know nothing about how businesses work. How are you justified in dictating to them, who run successful businesses, how to to operate, when you, the govt, have a eight figure net deficit every year? You are demonstrably the least qualified to give business advice.

Bahamas motto: "Soon Come"

Come just before the next election ?

“One man’s pay increase is another man’s price increase”
Quote from Winston Churchill.

> She said officials had discussed the matter with a senior economics wage specialist at the International Labour Organisation.

The "officials" should have had a town hall meeting with a large and diverse group of representatives of the local business community. At such a meeting they would have been told over and over again that ever increasing government taxes and fees, combined with excessive and overly burdensome government regulations, are major contributing factors to the cost of living crisis being experienced by so many Bahamians.

At the town hall meeting, these same officials would have been reminded that the greedy cruise ship industry continues to contribute very little if anything to our domestic economy. They also would have learned that this PLP government has failed to introduce any meaningful policies aimed at creating decent paying jobs to help drive down the very high unemployment rate, especially among young people.

And rather than officials meeting with a presumably foreign senior economics wage specialist, Pia and her fellow cabinet members should be meeting with a couple of Bahamian senior economics cost-cutting specialists!

Minimum wage should be increased on a yearly basis tied with the current rate of inflation to ensure that the lower economic stratas of society are not being placed at an economic disadvantage.

The problem with simply saying "lower the COL" is that the government is a huge part of why this country is so expensive to live in with duties and lots of excise taxes, but they have painted themselves into a corner with debt and cannot afford to lose revenue. Some stuff like absurd housing costs on on NP and some Family Islands, extremely high energy costs, etc. is also a result of poor government planning as well.

Another thing to consider is that quite frankly there are very few "skilled" jobs here, with unskilled and semi skilled labour dominant. Unless you are a doctor, lawyer, successful real estate agent, big contractor etc. you there really isn't a chance for you to make much money here unless you have a friend or lover to give you an overpriced gubermint contract. Either that or you have to get tight with the rich foreigners who can give you work and get you connected with that clique, and even then a lot of them will shaft you in favour of their American friends at the first opportunity.

Bahamian economic problems are extremely complex and can't be solved by just raising the minimum wage or saying "lower the COL". I really don't see any way it gets better here; the people with the opportunity to leave will leave (not that overseas is any better at this point) and the ones left behind will either sink or swim as the gap between rich and poor continues to grow bigger.

From an ilo.org article:
"*Most frequently, countries adjust their minimum wages once a year. Some countries, adjust rates every six months, while others have 2-years intervals. Annual adjustments seem adequate in periods of low or moderate inflation, providing workers and employers with appropriate predictability and allowing for regular adjustments, in line with evolving economic circumstances.*

*What to do if there is high inflation?
Yearly adjustments allow for predictability and smooth adjustments, and can be complemented by more frequent adjustments when inflation exceeds some threshold.*

*In some countries, when inflation accelerates above a certain threshold, more frequent adjustments are automatically applied. In France, for example, the minimum wage is automatically increased whenever price inflation exceeds 2 per cent within a given year.*

***Automatic indexation above a certain level, however, can be risky and lead to inflationary wage-price “spirals” in situations of sharply accelerating inflation.***

A very complex issue. In the US the federal minimum wage increase requires an act of Congress. **Despite the *theory* from the ilo, from epi.org (*economic policy institute*), in the US:**
"*The federal minimum hourly wage is just $7.25 and has not increased since 2009. The Raise the Wage Act of 2021, introduced in the U.S. House of Representatives on January 26, 2021, would gradually raise the federal minimum wage to $15 an hour by 2025.*" **this article was dated Jan-2021, but the 2024 fed min wage is still listed as 7.25.**

**The Bah govt is doing alot of uncoordinated *good* things, a clear sign that the motivation is not based on strategy and has everything to do with a 2025/2026 election campaign**. Had this been strategic, at the time of the first increase which was just a few months ago, they would have stated the plan for the sliding scale and the ultimate goal. They didnt. **Business like stability and predictability**

Do like the Biden Afministration is doing then. Increase the minimum wage but flood the country with millions of immigrants who not only take minimum wage jobs, but they create a housing shortage that pushes up the cost of housing . They also overload the welfare and healthcare services, so not only are minimum wage workers unemployed, but they must now battle for housing, medical, social and welfare services. Are we there yet