The Pacific Daily News reported today that gasoline prices have been hiked to around $5.05 per gallon at Guam’s gas stations! Since the pandemic began, prices have risen 11%, while the minimum wage has risen less than 6%.
Since early 2015, the purchasing power of minimum wage workers’ hourly pay has declined by about 14%. Back in September, the cost of closing this gap was $1.50, but by the time the Guam Legislature can fully phase in a 2-step increase to the minimum wage, by March 2024, it would require an increase of roughly $1.85. The Progressive Democrats of Guam endorsed restoring the purchasing power of the minimum wage to 2015 levels by 2024. This is achievable. The overwhelming support of Guam’s working families is evident. The Democratic majority in the Guam Legislature will deliver, as they hear this support from their constituents.
Bringing the minimum wage to $11.10 will fully restore the purchasing power that low income workers had before the pandemic began and then some. The policies we have seen over the last several decades have amounted to a large redistribution of income and wealth from the many working people on Guam to a relatively few elite of owners and managers. It is time to change that and make our government and our economy work for those who build value in our society by the sweat of their brow.
GuamMinimumWage.org 