The Money with Katie Show How to End Low Wage Work—Forever
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Dec 3, 2025 Ben Glasner, an economist with a PhD focused on creating a fairer economy, shares insights into combating low-wage work. He discusses the staggering statistic that 21 million Americans earn under $16 per hour, two-thirds of whom are women. Ben proposes wage subsidies as a solution, offering efficient targeting and bipartisan support, unlike traditional job creation methods. He explains how this funding could uplift small businesses and enhance local labor markets, all while addressing concerns about fraud and minimizing disemployment risks.
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Wages Up, Anxiety Persists
- Wage labor is technically at all-time highs for typical workers, even after inflation adjustments.
- Persistent anxiety comes from housing and other supply-side failures that make gains feel insufficient.
Working Class Misconception
- Low-wage work is disproportionately done by women in caregiving, education, and service roles.
- Political narratives still imagine the working class as men in factories, which misrepresents today's labor reality.
Monopsony Explains Wage Pressure
- Market power (monopsony) can depress wages when employers face limited competition.
- Policies like unions or minimum wages are tools to counteract buyer-side power in labor markets.
