If there is no minimum amount the company has to pay, it can save some costs that it might otherwise incur. 2. The company can hire more people at a lower income and in fact decrease unemployment 3. B. Deprives students and low skilled workers an opportunity to make an earning (Rector) 1. Minimum wage actually make low-income citizens and students worse off by pricing them out of a job due to their minimal skill sets and resources 2.
Less people would have to depend on welfare and other community services to get by. Many people depend on welfare because the current minimum wage is not enough to satisfy their basic needs. So, an increase would help more people help themselves. An increase would benefit all workers because it would push wages up for all employees. An employer would not be able to hire an unskilled employee for the same amount of a skilled employee, who has been employed longer.
This gives them a lot of hope and makes them feel wanted. During this time period many workers were needed. Immigrants would take jobs for less money and more hours than an American would. They would do anything to find a job. They would work hard to succeed because they had less than the American citizens.
Some believe that wage inequality was caused by educated people versus uneducated people. Many positions search for certain skills and if you happen to be in the right place at the right time then you would receive a position with a decent wage. The wage inequality for the building industry is based off of the fairness of wages paid to all involved. Even when the building industry is booming the wages generally stay the same and do not increase. This is because of the illegal immigrants that will quickly fill any openings and work for lower wages.
One of my main takeaways from this topic is that money isn’t the best motivator. According to Mayo’s Hawthorne effect, employees feel more motivated when their efforts are recognized, and this can be achieved through bonuses for example. However, this can increase individualism as employees will focus on outperforming their peers. Intrinsic motivation helps create loyal employees who are more satisfied on a personal level. An example of this could be social security benefits.
Making the rich become richer and the poor become poorer. Although many Americans fall under the ill-defined middle class section, they consider themselves lower class because of what they have compared to the people around them rather than what they have standalone. Some people argue that taking government aid such as food stamps and earned income tax credit will help incomes rise throughout all classes. If the upper classes income is rising without government aid, why should lower classes have to seek support elsewhere? The trade does not seem fair to people making a significantly less amount of many than needed to live a stable and comfortable life.
Minimum wage is the lowest hourly payment an employer must pay for his or her workers. To employees, minimum wage laws acts as a protection which employees can insure their own rights and have a reasonable standard of living. Having or raising the minimum wage can also effect other aspects positively, such as, benefiting low-income families, improving the efficient of a total production, reducing the gap between the rich and the poor, and so forth. A partial of people are opposing the concept of having a minimum wage claiming reasons like: it may reduce job opportunities and it can create a more competitive market for the employers. However, in my point of view, I believe setting a minimum wage is more beneficial than it is harmful.
For some individuals, the answer is yes. “The existence of trade unions still maintains an important counterbalance in even non-union employers, improving wages, benefits, workplace conditions, as well as reducing capricious management abuses” (Meyer, 2009, para. 3). The belief that unions are for the workers is still accurate. Employees in a unionized shop seem to receive better pay and benefits than non-unionized shops.
Fortunately, “low-skilled immigrants usually fill gaps in American labor markets and generally enhance domestic business prospects rather than destroy jobs; this occurs because of an important phenomenon, the presence of what are known as “complementary” workers, namely those who add value to the work of others.” (Cowen, 2010) In addition to investing and starting new businesses, immigrants filled in jobs of different pay-rate and skill spectrums where a high percentage of Americans do not want to fill. Many jobs that requires long set of working hours are often taken by immigrants. Americans are least likely to take low-skilled jobs and it is the immigrants who take those jobs. Thus, it is often found that majority of low-skilled jobs are taken by immigrants. With less opportunity and benefits for them, immigrants are encouraged to take any job available to them.
This allows someone who lives in a poorer part of town to have lower health insurance cost. However, this means people who live in upscale areas will pay more, even if they cannot afford the coverage’s. This may hurt many Americans who have lost their jobs due to the economy. Businesses, big and small, will have to pay a higher rate of insurance for their employees. This is causing some businesses to let people go, drop hours, and not fill empty positions.