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Effects of rising minimum wage
Positive effects of increasing the minimum wage
Positive effects of increasing the minimum wage
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Increasing the minimum wage will benefit not only the employees but the employer as well. The level of work effort will increase and the attitude and drive will change completely. Employees will feel their value to the company is appreciated and not taking advantage of. They will also feel as if they do not need to struggle to live outside of poverty. The thought of bills, food or even clothing should not become a burden to someone working a nine to five every day of the week. Not to mention other bills should as childcare, household supplies, insurance and more. This too could become overwhelming for someone making more than minimum wage. As a customer it feels great to walk into an establishment and see pleasant workmanship and receive great service. As an employee everyone wants to give all of their effort to the job but the thought of the expenses you have to bare just makes it that much harder to work and be joyful. Some people have the ability to do both but what if everyone had a great outlook when beginning our jobs, the possibility. Raising minimum wage by just $1.50 could make the biggest difference for any “single family” …show more content…
Most people (of today) are content with receiving government assistant. However government assistant or Welfare could be very costly and with the money they use to fund the families with, they could use that to increase the pay and decrease the Welfare. There have been too many times that the cycle of poverty has repeated its self-due to low pay, long hours and poor work ethic. With the requirements needed to qualify for a job that could cover your expenses, most of today’s employees wouldn’t be able to get hired. Most only have a high school diploma and a few years’ experience; this is normally the background for a minimum wage employee. In this economy you’re expected to have at least an Associate degree or even better a Bachelor to get a job with reasonable
Imagine a world where you are working overtime, seven days a week, yet your kids are starving. You can’t get the education you need because you don’t have the time and money to afford it, and you can’t change jobs because this is the only one you can get. Unfortunately, this is the reality for millions of Americans living today. The federal minimum wage is too low to help families, and actually mathematically speaking, too low to survive on. The quality of life for minimum wage families is terribly low, and that is unacceptable. As humans, we should be looking after others and helping the poverty come out of their continuous cycle. Raising the minimum wage would not only help families be able to afford a better quality of life, but help them to afford healthy food, get an adequate education, and invest in the necessary health care they need.
Unemployment is on the rise and, always trying to be avoided. By obtaining a degree, the chance of being out of work is reduced. Baum, Ma, & Payea (2013) claim, “The 2012 unemployment rates for 25- to 34-year-olds were 9.6% for those with some college but no degree and 7.2% for those with associate degrees” (p.20). With just an associate's degree, the chance of being unemployed plummets 2.4% compared to those compared to little college, proving when the higher of a degree is obtained, the lower
In “Should the Obama Generation Drop Out?” Charles Murray talks about how a college degree now days, is looked at higher than it should be when it comes to meeting the qualifications for a job. Most jobs that pay over minimum wage will require you to have a college degree, making it very difficult for people that either can’t afford it or do not believe in it, to get a reliable well paying job. Like Barack Obama said “It’s what you can do that should count when you apply for a job, not where you learned to do it”(Murray 97); a large amount of people have the skills for a job but do not have the degree to show for, making them not qualified for the job. Companies will not even give you an interview if your resume does not have any type of degree on it. That situation makes life very unfair for multiple individuals. There should be some kind of certification test for applicant to take to see if he or she meets the skills needed for the job. The benefits of discarding the bachelor’s degree as a job qualification would be huge for both employers and job applicants. Therefo...
Well, raising the minimum wage has both the pros and cons. Still, the fact that increasing the minimum wage nationwide would increase millions of workers’ earnings is deniable. I suppose that’s why some people advocate raising the minimum wage will grow the economy for everyone. In 2014, the president of the United States, Obama, called on the current Congress to raise the national minimum wage, which proves that Obama actually supports raising the minimum wage. ‘February 2014 Congressional Budget Office Report The Effects of a Minimum-Wage Increase on Employment and Family Income is the latest attempt to do so, in this response to Members of Congress with respect to an increase in the federal minimum wage from $7.25 to $10.10 per hour.’
Minimum wage is a topic that has been popping up since the 1980s. From whether we should lower it, or even raise it, but now in the 2000s minimum wage has been the center of attention more than ever. There are two sides to this topic of minimum wage; whether it creates more jobs or does not create jobs. Those who argue that raising minimum wage will create more jobs will have a rebuttal which is that it does not only cause the loss of jobs but that it would make things much worse and vice versa for those arguing raising minimum wage will cause loss of jobs. There will be two authors representing opposite views, Nicholas Johnson supporting minimum wage will not cost jobs with his article “ Evidence Shows Raising Minimum Wage Hasn’t Cost Jobs”
One way raising minimum wage will be beneficial is that it could lift many Americans out of poverty. Raising the minimum wage in Illinois, would help the families of more than 1.1 million workers who work to meet their children’s basic needs and “reduce the adverse effects of poverty on a child’s well-being” (Fiscal Policy Center). Studies have shown that raising the minimum wage would help 1 in 5 Illinois families who are in poverty. By raising the minimum wage in Illinois, it would help workers with families spend money on food, housing, gas, and other needs without going into poverty. Along with puling Americans out of poverty, raising the minimum wage could also stimulate economic growth. Raising the minimum wage, is stimulating economic growth by worsening the income inequality and substantially reducing the employee turnover for the business. Increasing a person’s income would raise their yearly earnings by $3,640 and “Improve the economic security and reduce the economies poverty rate” (Fiscal Policy Center). Low-wage workers spend most of what they earn on their basic needs, which is quickly spent and does not leave the worker with much money left to spend on other needs. This boost in the minimum wage will stimulate the economy and help create opportunities for more people, by hiring more workers to keep up with the
In the eyes of the employees, the minimum wage raise is mostly a pro for them. There are three main reasons why increasing the minimum wage to $15 per hour would give benefits to both the employer and employees. Workers can make a decent living with a pay of $15 per hour. These people will then have a higher income that will enable them to pay their basic needs and living expenses. Back then in 2013, a report from the Congressional Budget Office estimated that 16.5 million low-wage workers would benefit from a $10.00 per hour wage; this includes 900,000 works coming up the poverty line ("The Effects of a Minimum-Wage Increase on Employment and Family Income"). So if employees receive a pay S15.00 an hour, the fewer people ar...
Although raising the minimum wage won’t eliminate poverty as poverty can never be eliminated. It could help with lowering the poverty rate. The “inactive” unemployed Americans lack motivation, because they can’t support themselves with the money earned. It simply is not enough. As the cost of living rises, minimum wage stays stagnant. This is not balanced at all. If minimum wage back in 1968 was doable, raising it now could not kill the economy. Increasing the minimum wage could be an incentive for workers to finally seek jobs again; prompting growth in the economy and lower down poverty levels in many ways. The quality of a job is just as important when creating quantity of jobs. What lacks in the U.S right now is the incentives to make Americans want to do better. Raising the minimum wage could stimulate the desire to work and get around, possibly pursuing more education to climb the ladder to get higher in the economic
In recent years the minimum wage has been a heated topic. People want to hike it up to 15 dollars an hour which they call a living wage, while others just want to keep it the same. There are also others that suggest to bring the minimum wage to around $10.78 an hour, which should be around the minimum wage now if we account for inflation from the 1960’s. I agree with that to a certain point. We as a nation need to bring up the minimum wage only up to ten dollars so that less people are living in poverty, and not any higher so that states with smaller economies don 't crash and burn.
If more people went to college, and less went the vocational route, jobs will take a momentous hit. Today, companies will not even touch an application that does not include a Bachelor’s Degree; even if the Bachelor’s Degree has nothing to do with the job being applied for. Attention is not given to whether the hopeful applicant qualifies for the job; all that matters is that the applicant has a Bachelor’s degree. Murray best sums up the American job market when he says, “Employers do not value what the student learned, just that the student has a degree” (Murray). However, if less people obtain a Bachelor’s Degree, employers will be forced to base applicants on their skills, and abilities. Furthermore, important vocational jobs that lie vacant will be filled. Good electricians, carpenters, and construction workers will always be in
Some think that the minimum wage should not be raised, but others think that the minimum wage should be raised. If one had to be chosen, raising the minimum wage would be better. The minimum wage should be raised because if you were to work full time on minimum wage, you are below the poverty line; Also states that did raise the minimum wage above the federal standard have had more job growth than states that did not. Finally, "Minimum wage workers are much more likely to immediately go out and spend that extra money in the economy," says Heidi Shierholz of the Economic Policy Institute, which favors raising the minimum. "That's because they're often living paycheck to paycheck."
The minimum wage has always been a controversial subject that has more and more people debating about the subject. While the talk about minimum wages are highly popular it is an important subject to get informed about if you’re an employee or employer because it has to deal with your money. What is minimum wage? Minimum wage is the hourly wage an employer can pay an employee for his or her work. While the talk about raising the minimum wage has caused some attention in both negative and positive. Nevertheless, the topic that the minimum wage offers substantial benefits to low wage workers without any negative effects to business owners has a growing view among economists.
It is very difficult to live in America if you are living off of minimum wage, and many Americans are living off of it today. Raising minimum wages has its benefits like gaining more money to live better, but people do not see the down side of the increases in wages. With the increase in minimum wage, it also causes the cost of living to increase. How can this help the economy or help people? Minimum wages in America should not be increased because it will cause cost of living to increase, reduce employment, and cause businesses to lose money and workers.
...truth. today’s job market is fiercely competitive. With unemployment at an all time high, it is near impossible for one to find a job with or without a college degree. Hundreds of layoffs and fewer openings can really make it hard on those who have just graduated and are trying to find a career. Just because you have a college education does not guarantee a job, or job security. It just makes you a better candidate.
Minimum wage is a big part of the government and culture in the United States, and it has been for many years. It was created to be of benefit to the poor or less skilled workers in the working world. The minimum wage has evolved throughout the years since the late 1800’s. But what do people really know about it?