An increase in minimum wage will create job losses for many people. Because wages will be insignificantly high, more employers will want to hire fewer workers. The businesses will need to cut labor costs by hiring fewer people because they cannot afford the wages. Lots of employers won’t want to hire people to work for $15 an hour whose skills aren’t very advanced, causing a 0.3% decrease in employment - an estimated 500,000 to 1 million. These job losses could be due to wages putting a struggle on businesses. Companies will want to hire people will more experience for such a high wage, causing fewer teens to be able to gain acquiring working skills needed in life. Seattle,
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Washington is the first city to increase their minimum wage. As people thought this increase would help, the residents are quickly seeing ...
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...s or employees that will not see an increase in pay if minimum wage workers see one. There would be a benefit in my solution because there will be little to no job losses. Fewer families will have to collect unemployment to survive. People who are on government assistance may not have to give up benefits that they need. There will not be a decrease in people attending college or pursuing a career. Employees will not ask for fewer hours to be eligible for government benefits, which does not affect the employers of business because they will not have to do the job of multiple people. It will also not affect franchises or small business because they will not have to layoff employees or change from
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a franchise to an independent business. Needless to say, a slight increase would hurt the economy a lot less than a major increase in wages.
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