MINIMUM WAGE INCREASE – WHO REALLY BENEFITS?
Seems like many are celebrating the increase from $6.00 to $8.75 per hour…
But let’s ask: WHO is this really helping?
MINIMUM WAGE INCREASE – WHO REALLY BENEFITS?
Seems like many are celebrating the increase from $6.00 to $8.75 per hour...
But let’s ask: WHO is this really helping?
- Approx. 10,400 people are on minimum wage
- Of those, only 2,395 are Caymanians
- That means OVER 8,000 WORK PERMIT HOLDERS will benefit more than locals
And guess what?
- Most of that extra money will be sent overseas
- Cayman already loses over $290 million a year in remittances
- Biggest recipients: Philippines & Jamaica
- That number will only go UP
CAYMANIANS will face:
- Higher pension payments
- Higher cost of food
- Increased prices on goods & services
- MORE INFLATION
WHAT WE REALLY NEED:
- LOWER electricity bills
- REDUCED fuel & transportation costs
- LOWER mortgage interest rates
- HOMEOWNERSHIP opportunities for Caymanians
Raising the minimum wage sounds good – but it’s NOT the solution.
It won’t lower the cost of living. It won’t help Caymanians own a home.
It won’t fix the real problems we face every day.
Let’s stop looking for quick, easy fixes — and start making bold decisions that actually HELP OUR PEOPLE.
CAYMANIANS DESERVE BETTER.
Ellio A. Solomon
