Tc asked in Social ScienceEconomics · 6 years ago

What do you think about the possible minimum wage increase here in America?

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  • Anonymous
    6 years ago
    Favourite answer

    The economy is picking up. When the FED get started to raise fund rate, it is the best time to raise the wage.

  • 6 years ago

    The minimum wage stands at $8 to about $11 per hour, depending on which State, city and industry.

    As a maximum, it is possible to earn about $20,000 per year and that is the highest minimum annual wage in the world.

    The minimum wage is paid in mostly low-skill, temporary, seasonal and easily-recruited occupations.

    Any increase could [many say will] cause a increase in unemployment among these people.

    Ask yourself: how many more unemployed poor people are you willing to accept to make the minimum wage equal to $20 per hour, say?

  • 6 years ago

    A higher minimum wage can result to the following:

    -fewer employees

    -fewer hours for current employees or removed perks like tips, free food/parking, etc.

    -increase in prices of products or services sold

    -greater purchasing power for workers with the revenue going back to businesses they patronize and products or services they avail of or purchase

    -decreased interest in college education since minimum wage jobs are paid almost the same or can be more than what jobs requiring college education pay

    In relation to the minimum wage issue, here's an interesting report: http://bitly.com/1n4lqIa .

  • 6 years ago

    Increases in the minimum will create competition for overgrown business.. with a livable minimum wage private business will employ its owners instead of getting low paid others to bring in the money. those who cant find work will find thier own business opportunities while creating thier own employment..

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