GOOD DAY FOR: Two million workers, as the federal minimum wage rises 70 cents today, to $6.55, its first increase since 1997. (CNNMoney.com) The minimum wage is now about a third of the average U.S. wage; it was about half the average wage in the 1950s and 60s. Some 2 million workers will be affected by the increase. (The Atlanta Journal Constitution)
BAD DAY FOR: U.S. bragging rights, after Toyota said it sold 4.8 million cars and trucks worldwide in the first half of 2008, trouncing General Motors, which sold 4.54 million. Both automakers have been dented by the sagging U.S. market, but Toyota has weathered the shift to smaller cars more successfully. Toyota is well on its way to dethroning GM from its 70-plus years as the world’s top auto seller this year. (MarketWatch)
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Trump uses tariffs to upend Brazil's domestic politicsIN THE SPOTLIGHT By slapping a 50% tariff on Brazil for its criminal investigation into Bolsonaro, the Trump administration is brazenly putting its fingers on the scales of a key foreign election
-
3 questions to ask when deciding whether to repair or replace your broken appliancethe explainer There may be merit to fixing what you already have, but sometimes buying new is even more cost-effective
-
'Trump's authoritarian manipulation of language'Instant Opinion Vienna has become a 'convenient target for populists' | Opinion, comment and editorials of the day
