Some economist says that with their research they have found that actually increasing minimum wages may not have the positive impact in country’s economy, and might not have positive impact on its people either. According to them, the quantity of labor demanded increases as the price of labor falls. What it means, a company can hire more workers in order to make more profit from the workers at lower price. By increasing minimum wages, youth and less skilled worker will have less chance to get the job since only skilled worker will be preferred by companies to pay the minimum wages. So the country could end up with large number of unskilled unemployment population.
Big firm are establish...
... middle of paper ...
...out the world.
To achieve better performance from the employee, company and Nation itself, government should raise the minimum wages as necessary but every aspect of the financial criteria of the company and its staff should be taken into careful consideration. The country’s first priority should be its people and then company. The government must have some support plan for the native company over the foreign company. Government should not only increase the price of the goods and services but it should focus on how to balance the economy equally, that is either increasing the price for everything including the minimum wages or decreasing the prices of everything. As seen in past few years, the prices for everything has gone up except the minimum wage, so, now it’s time to raise the minimum wage for the people of the country to increase the standard of their life.
Need Writing Help?
Get feedback on grammar, clarity, concision and logic instantly.Check your paper »
- People in america are arguing should minimum wage be increased or not i think minimum wage should not increase why should a no skill worker make 15.00 0r a teenager if people feel like they should be paid more they should take it up with the state because they set how high or low they want it as long as it more than 8.15 less than 50% of people receiving minimum wage are full time workers this is because many minimum wage workers are teenagers or part time college students the most current research shows that a higher minimum wage does increase.... [tags: Minimum wage, Wage, Unemployment, Employment]
1638 words (4.7 pages)
- Should Minimum Wage Be Increased. “Put yourself in my dirty, worn out, ill-fitting shoes, and you hear me.”(Parker 1) A minimum wage job can only be helpful for so much. As a single parent, Parker does not have enough to sustain her family of 3 with their needs for food, child care nor medical care. With a minimum wage job you can’t afford child care which results in no job. What can you do with a minimum wage job. What can you afford with it. How can you support your family with such a low salary.... [tags: Minimum wage, Wage, Living wage, Health care]
818 words (2.3 pages)
- With the current economic market still reeling from the effects left by the recession that consumed the United States for eighteen months, we should take the time to weigh the benefits against the possible results that raising the minimum wage could cause. Statistics show that an increase in current wage would do more damage to the already unstable market, than the good that so many government officials want everyone to believe. The misinformation that is being delivered to the ever growing population of poor individuals provides them with false hope that the extra money that they will be receiving in their paychecks will pull them out of poverty and save them.... [tags: Minimum wage, Employment, Wage]
1299 words (3.7 pages)
- Karl Marx’ capitalism theory goes hand in hand with the minimum wage issue. Declining wages and growing inequality are the world’s central economic challenges. In modern day America, where the cost of living is constantly on a gradual increase, the question arises: Should the minimum wage be increased. After doing some research, reading works by authors such as: Jordan Weissmann, Jared Bernstein, and Brad Plumer. I have come to the conclusion that, although increasing the minimum wage will have various effects on diverse demographics, increasing the minimum wage will ultimately benefit our nation.... [tags: Wage, Working class, Minimum wage, Employment]
802 words (2.3 pages)
- There have been various conflicts for many years now in the United States economically. Wanting to raise the minimum wage to people who work in the fast-food industry that earn minimum wage is the biggest conflict. Majority of fast-food jobs pay minimum wage and are known to be for teen-aged workers not for an older person to make a living from. Although many people think raising the minimum wage would be a beneficial idea for the government so it can help the economy out. Minimum wage was never meant to be a feasible income; if minimum wage gets increased it would not benefit the poverty crisis in the United States.... [tags: Minimum wage, Unemployment, Employment, Wage]
734 words (2.1 pages)
- There have been many arguments going on whether minimum wage should be increased. This action has its pros and cons. It can benefit many families as living cost has gone up, price for education is rising, and college students are in huge debts. Minimum wage has been around for ages. Minimum wage employment was a temporary condition for people to earn little payment until they moved on to a better paying job. These jobs helped build résumés, experiences, and skills for a better career. As years went on that idea began to demolish into a job that many families can get to survive and pay for their expenses.... [tags: Minimum wage, Employment, Money, Wage]
711 words (2 pages)
- One of the most frequently asked questions in the United States is whether the minimum wage should be increased or remain the same. The minimum wage is currently established at $7.25 an hour. The Federal Government composed the minimum wage in 1938 with the Fair Labor Standards Act. The passing of this act declared the fact that workers must be payed for working overtime. In the early stages of the minimum wage being put into effect, workers were paid twenty-five cents which is equivalent to four dollars in today 's currency.... [tags: Minimum wage, Unemployment, Employment]
1267 words (3.6 pages)
- In a Congressional Budget office report in 2014, many policy analysts came to the conclusion that even a raise to $10 an hour would raise the living budgets for 16-24 million people in the United States, but also create a loss of half a million jobs as well. Imagine what a $15 an hour raise would do to the employment rate and available jobs in the country. The amount of money paid for minimum wage became an issue in 2013 when fast-food employees felt they should be paid more than $7.25 to $7.95 an hour.... [tags: Employment, Minimum wage, Wage, Small business]
1537 words (4.4 pages)
- It’s a question that the nation is split on. In the presidential election, you can find all sorts of different stances on the subject. Some choose a side because of their socio-economic status. Some choose a side based on whether they believe it will hurt or help the economy. The question is whether or not the federal minimum wage should be increased. According to a website called iSideWith, 58% of respondents to this question believe it should be increased, while 42% believe that it should not be.... [tags: Minimum wage, Unemployment, Employment, Economy]
1188 words (3.4 pages)
- The Minimum Wage Should Be Increased Congress enacted the federal minimum wage in 1938, during the Great Depression. Congress had two goals; keeping workers away from poverty and boosting consumer spending for economic recovery. Today, there is a debate, whether we should increase the minimum wage again. Increasing the minimum wage is useful for several reasons. First, the current minimum wage has failed to keep up with inflation. Second, a higher income level reduces employee turnover and increases efficiency and ultimately, raising the minimum wage does not reduce employment.... [tags: Minimum wage, Employment, Wage, Labor economics]
1049 words (3 pages)