These business groups claim that due to the current recession, employers cannot undergo an increase of minimum wage in this financial strain. Furthermore, they declare that some businesses may be discourage to locate in California due to the cost increase of doing business and some current businesses may be encouraged to move elsewhere. Additionally, these groups also notice that the increase of minimum wage does not take into consideration any competing economic factors and they claim that the business may be undergoing some difficult moments and not be making good profit, but even then, minimum wage will keep increasing as they suffer financially akin to
Financial Services Department 12 January 2014 Raising Minimum Wage and Its Impact on the Economy Raising the minimum wage has been heavily discussed by the federal government, from President Obama's call to raise the minimum wage to The Fair Minimum Wage Act of 2013. So as raising the minimum wage gains more coverage, several economists and small business owners have argued that overall, raising the minimum wage will have a large negative effect. However with further research, raising the minimum wage actually has a positive effect on the economy, more specifically, on small businesses, unemployment, demographics, and the price level of consumer goods. With the idea of raising the minimum wage, a large focus has been placed small businesses.
We can simply learn a trade, get some college, and even stay longer with our long term employer so that we can earn livable wages. This may sound mean, O.K. rather harsh; but I don't have a lot of pity for the majority of adults making minimum wage, because most of them made that choice to not better themselves. It’s very easy to not try and stay in that one place of employment. Because many want to work, have family, but no degree; a lot of businesses open their doors when they can monetarily!
Minimum Wage Even though a couple of years ago minimum wage was increase to $7.25, this is still a major issue. In the economy that we live in, where the prices of food, clothes, homes, health insurance, and gasoline are on the rise, when you make minimum wage, it is merely impossible to survive. There are many companies that start off employees making minimum wage, which they claim is all they can afford or the position itself pays low, for example, housekeepers. Well to be quite honest, I know that a housekeeper’s position does not require education or a hard to find skill set, but the housekeeper’s job is very strenuous and demanding. I do believe that the minimum wage should be increased
In these last few months the debate on raising the minimum wage has skyrocketed. President Obama said on his most recent radio address that American’s deserve a raise for their hard work. That a raise in the federal minimum wage would bring over 28 million American’s out of poverty and be beneficial to the economy. That mothers and fathers would be able to support their families. Businesses would benefit by middle income people spending their wages quickly because of basic needs.
Tieaisja Nicole Powell Unit 9 Final Project Minimum wage essay College Composition 2 Minimum wage is considered low income. It affects the lives of people making minimum wage and also small business owners. It affects the employees because the cost of living continues to rise and minimum wage doesn’t. Small business are affected because raising minimum wage would mean they would have to hire less employees and raise the prices on the company’s products. Minimum wage is unacceptable because the cost of living will continue to increase.
Essay About Minimum Wage As everyone knows, the new hot topic after the health care issue is about raising the minimum wages to $15. Everyone has their own views about these issues, some people, just by hearing this say yes without thinking about the outcome of it, thinking that they will get paid double the amount then they are now. As research done by James Sherk, in “What is Minimum Wage: Its History and Effects on the Economy”, the BLS says 3.7 million Americans work at minimum wage, which are spilt into 2 category, one was are teenagers who are working while studying, and the other category is drop outs from school. Now lets think about this for a second, if they increased the minimum wages to $15 instead of $8, this will make everyone
Mirla Munoz Period- 1st Mr. Lauer March 7th 2013 Minimum Wage Wages increase but also decrease whether for the unions or an assigned minimum wage. Minimum wage can define if it is enough for the people to maintain a good way of life. Not in every state the minimum wage is the same. It some countries like California the minimum wage is $8.00 per hour, in comparison with Arizona the minimum wage is $7.69 hourly. Minimum wage keeps increasing when there are more workers to help people have an efficient life with a fair pay, but also it can increase for some workers to lose their jobs.
Currently there are many teenagers working. Many are working after school and on the weekends. With the minimum wage increase there would be a number of teenager layoffs, because workers are going to be looking for full time workers in order to reduce the amount of money they are paying in the amount of employees they have. “In a free labor market, wage rates reflect the willingness of workers to work (supply) and the willingness of employers to hire them (demand). Worker productivity is the main determinant of what employers are willing to pay.
I chose this topic because it is a major issue in today’s economy. Many people are for raising the minimum wage. On the other hand, there are those who reject the idea of raising minimum wage. The suggested price to raise the minimum wage is ten dollars, but would that be enough to satisfy today’s economic living standards?