More people are working and prospering
If you drive down Court Street in Kankakee, this sign has probably caught your attention.
It towers over a popular fast food restaurant. The sign advertises a beginning wage above the minimum wage, plus 401k benefits, plus $2,500 for college expenses. Think of it. A job at a restaurant now has retirement and educational benefits.
This location is not alone. Posters for job openings are everywhere. Many pledge a cash bonus for staying on the job — or successfully recommending someone for the job.
In April, the economy added 263,000 jobs. At the same time, The Wall Street Journal reports, wages have been growing at 3 percent per month. This is good news for the workers, of course. It is also good news for the rest of us, too. As more people make more money, that extends the life of both Medicare and Social Security, which are supported by taxes on wages paid by current workers.