The only ones that benefit from minimum wage are those unskilled workers who are currently employed. Minimum wage restricts employment opportunities for the young, unexperienced, and those people with educational disadvantages. They will continue to find themselves handicapped in the job market as long as the minimum wage legislation remains in affect. In society today the demand for "unskilled" workers is low and the supply is high, therefore there is a surplus of unskilled workers in the job market. The effect of a surplus drives down an individuals reservation wage, as they are willing to do and take anything for work.
This essay will argue that the government should distribute subsidies for some people who are able to work, but cannot find a jobs to reduce economic problems, improve the standard of living of the unemployed, and even reduce crime. Unemployment basically means people who lack of seeking jobs. “The unemployed are people able, available and willing to work at the going wage rate but cannot find a job despite an active search for work” (Riley, 2012). Unemployment occurs when an expansion in demand rates, while the economic growth goes downward and layoff starts increasing because of a depression from the economy (Hardman, 1999). High rates of joblessness are the main obstacle that is damaging the social development as a whole.
As said on the book, How Can The Poor Be Helped (pg. 52) by Thomas Gale, it quote, “..at best living wage laws bring about modest benefits at a higher cost to businesses and taxpayers..”so in other words the better the wage the better it helps workers in there needs. Today minimum wage is a very economic problem to this world wide as some people would rather pay a bit extra more because of the way or how much the people may work at the employment, though some want to be equally fair others think otherwise. It actually determined to the economy as a whole so we are talking lots of money to one single person to all working stations. The wage of the federal money is actually $9.80 per hour so no more high limits so said in the webset; http://www.epi.org (Pg.3).
The value of money will never go unnoticed, and everyone wants to be highly paid, but not everyone is able to develop the skills for the jobs that pay more than the minimum. On the other hand, there are hard workers in this world that are extremely good at what they do, but only make enough just to get by. This is not right and the only thing that would fix this is to raise minimum wage. For a brief moment out of the passage “Are America’s Wealthy to Powerful?” they mentioned that the wealthy aren’t really concerned about minimum wage going up. They also spoke on how raising the prices would stop most crimes that are related to robbery and drugs.
While, of course, a few lucky employees are able to enjoy a higher wage, many willing could-be employees are not able to find jobs as a result; in other words, the minimum wage creates unemployment in poorer communities (Rothbard). One sensible person might ask, “Why is the minimum wage still being enforced today even though it is such a horrible law?” This perceptive question leads to a disappointing answer; the people that actively support the minimum wage act because of politics or simply economic ignorance. A minimum wage that derails the less affluent can positively affect those with larger wages and those in power. Therefore, the minimum wage is often used as a scheme for political and personal gain, despite the great amount of hurt that it causes to others (Vuk). In order to avoid unfair political advancements and unemployment to those who need it, the minimum wage should be outright eliminated; the market would work its own way through finding the right price to pay low-level employees.
Work should be something you enjoy and get paid for. Today, it’s just accepted that both parents, spouses, or significant others work to afford the luxuries the world has to offer. If people work more hours now than they ever did, what will it be like in double the time? People will probably be bribing for jobs or worse killing or hurting over them. In the reality of restructure and layoffs, competition is created but perhaps the competition is created because more people want higher paying jobs just to afford their luxuries and become a victim of work overload.
Today, the highest paying jobs are not necessarily the most important ones. (For example, teaching is a job that is more functionally important to society than many jobs in the computer engineering field, yet software programmers make more money simply due to their acquired skills.) Furthermore, these high paying jobs have not encountered a shortage of qualified applicants, making the reward of high income unnecessary. Levy explains that the labor force has grown significantly, and this gives employers more choice in who they hire. This mostly hurts lower class workers, for they are less likely to have the skills and education necessary to succeed in the current highly competitive job market.
That is in fact one of the leading factors. As there is yin and yang, the demand for a higher minimum wage is no coincidence or selfishness as others perceive as is. The poverty shown throughout the decade is deadly prominent. Minimum wage should be raised as people are not gaining enough money compared to the past, despite with more education, too many low quality jobs, “in active” unemployment are outcasted from the statistics, and finding jobs is more difficult than it was decades ago. One dollar and sixty cents do not sound a lot.
The economy is who to blame for the downfalls of the financial faults in the world. in todays society the economy is unbalanced and unfair with money. The employers needs to realize that the people are suffering and need to step in and take a... ... middle of paper ... ... in minimum wage overview a percentage of people that get hired are paid more than minimum wage“Most employees are paid more than the basic minimum wage. According to the Bureau of Labor Statistics (BLS), in 2011 94.8 percent of employees who were paid by the hour were paid an hourly wage that was greater than the Federal minimum wage$7.25.” (Congressional Digest). Which does not prove why are they asking for more money if they already started off with more than minimum wage which put them ahead for a better raise.
However, this question will make a lot of people surprise when they have it. In my opinion, I think money has two sides for the happiness because money can make us happiness in working, and their life. Diversely, money cannot make us happiness if we overuse it and don’t know how to use it in the right situation. So we need to have money, happiness, and working to be balance and make thing work out. Day by day this thing flow around the work, it is too importance, that we don’t have enough of it and it is call money.