Minimum wage is a hot topic of debate in many countries around the world, as it has a significant impact on the lives of workers and the economy as a whole. There are compelling arguments on both sides of the issue, and it can be difficult to determine the best course of action. However, by understanding the various factors at play and considering the potential consequences of different policies, it is possible to make informed decisions about minimum wage policy.
Definition of minimum wage
Overview of the debate surrounding minimum wage
II. The arguments for raising the minimum wage
Higher wages can lead to increased productivity and job satisfaction
Higher wages can reduce poverty and income inequality
Higher wages can stimulate economic growth by increasing consumer spending
III. The arguments against raising the minimum wage
Higher wages can lead to job losses, as businesses may not be able to afford to pay higher wages
Higher wages can lead to price increases, as businesses pass on the cost of higher wages to consumers
Higher wages can discourage employers from hiring low-skilled workers
IV. Factors to consider when setting minimum wage policy
The cost of living in a particular region
The competitiveness of the local economy
The impact on small businesses
The potential for unintended consequences, such as job losses or price increases
The minimum wage is a complex and multifaceted issue, and there is no one-size-fits-all solution
Careful consideration of the various factors involved can help policymakers make informed decisions about minimum wage policy that are in the best interests of workers and the economy as a whole.
Raising the Minimum Wage, A Speech Outline
The income forms part of the indirect earnings that the increased wages result in. Conclusion The issue of raising the minimum wage is a highly debated topic. Another important argument in favor of the law deals with productivity and technological side of business and trade. Increase access to job training, institute a health care system so that low-wage workers will not have to divert their salaries to such costs, and create more access to safe and affordable day care to make the increase in the minimum wage meaningful, and not just minimal improvement. Living Wage Policies and Campaigns: Lessons from the United States.
. Increasing the minimum wage has been proposed as one of the effective ways of dealing with the issue Sloman and Sutcliffe, 47. For more than 75 years, real GDP per capita has consistently increased, even when the wage has been. Words: 1583 - Pages: 7 Premium Essay Employment Law. The Real Argument For Raising The Minimum Wage.
Often businesses are afraid to increase minimum wages. Were you a Bellhop ,cashier ,bartender ,cooks fast food ,lifeguard,. When minimum wage is more set to be an entry point for some young adults first entering the work force. For instance, bartenders wash glasses and servers almost always perform some light cleaning duties… Across the country, working people in the restaurant industry, along with organizations like ROC United, CTUL, and other advocates, are fighting hard to make crucial changes to the tipped wage system so more men and women can earn a fair return on their work. It is also significant to note that working for long hours has had an association with several adverse effects. Despite trying to remove blame from the minimum wage, the coincidence of these states with the highest minimum wages that also have the lowest employment rates -- Alaska, ashington, and Oregon -- seem too much of a coincidence to ignore. The actual state of the union in the past year has involved a government shutdown, total legislative gridlock, and polls demonstrating the massive unpopularity of Congress among all Americans.
This again invalidates the argument that the free market can set wages effectively -- it cannot given the imbalance of bargaining power between workers and businesses. The problem with minimum wage in America is that it causes a lot of poverty, causes individuals to work more than just one job. Industrial and Labor Review 49:547-52. The purpose of setting a minimum wage is to arrange working hour and to ensure that every worker get payed a suitable wage for working. For example, the family, in addition to the losing of, time with family and friends, one might be more irritable towards them when one is on his or her time off Campbell, 2012. Survey: I plan to conduct a survey around campus and poll people with few questions. In a recent article for the trade publication Industry eek, economist Michel Evans noted that the "U.
Among workers who describe their occupation as Front-of-House, 22% of Black workers are unemployed, compared to 10% of White workers and 11% of Latino workers. A good thesis statement on minimum wage topics presents all arguments that you will consider in your paper in a clear and concise manner. With the increment in the lowest wages and the propensity of the low-income earners to spend any extra income, the economic performance will increase and the companies will be at a better position to hire new labor in fulltime and part-time basis Mărginean and Chenic, 92-102. . Increasing the minimum wage goes beyond simply giving people more money. .
Free Essays on Minimum Wage, Examples, Topics, Outlines
Raising the minimum wage in the United States will create a huge unbalanced economy by increasing the cost for businesses to hire. If people keep pushing to raise the minimum wage, we will see more and more computers taking over our entry-level jobs. . This group already earns the lowest wages out of all jobs in the United States, with limited opportunities for economic advancement. If the economy would be helped by putting money in the pockets of the people who spend it, nothing would benefit the economy more than a raise in the minimum wage. Just look up an example of minimum wage essay and check how the person who has written it presented their arguments and backed them up with factual data. In order to keep themselves away from that, people would work in jobs that pay the minimum amount of money while they figure out what might be next.
. Unions: The Good, the Bad, the Ugly. . Many poor people will not be unaffected by an increase in the minimum wage as they do not have a steady job or not working at all. . On Sept 18, 2018, U. In order to show that the minimum wage raise will be beneficial, it is important to focus on the stimulating effects of the wage raises Krugman and Wells, 49.
Behavior: The buyers' behavior for people earning minimum wage will be significantly impacted and their consumption will increase. Retrieved from Forbes: LII. Restaurant workers experience poverty at nearly three times the rate of workers overall, and workers of color experience poverty at nearly twice the rate of white restaurant workers. Creating more jobs, or changing more the nature of jobs from just a part time job to a full-time job, may have a better financial effect on poor people than just raising wages. However, critics argue that there are many adverse effects on small businesses and the general economy of the country. First, there is the issue of reconciling increased labor costs with static production profits. Now, this is a rate that seems more liveable to me.
Journal of Human Resources, 26 1 , pp. Minimum wage jobs usually require the least amount of skill, training and experience. Tipped workers are especially vulnerable to wage theft. The number of restaurants in the U. Of all people who work in restaurants, White men typically earn the most and hold the highest paying positions like managers and bartenders. .
Effects of Raising Minimum Wage Essay Examples & Outline
Scholars have proposed that some aspects continue to intensify this economic problem. Ford Motor is a company that attributes its success on the quality of its manufactured vehicles. Therefore increasing the minimum wage is the best way to ensure a win for all. Joint Economic Committee Report. However, Los Angeles is very different from Seattle in terms of its geography and its neighbors. Retrieved June 15, 2008 at Saxton, Jim.