Increased Minimum Wage

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Minimum wage job workers want higher wages due to the cost of living increases that happen annually; while the business owners claim that an increase in minimum wage would force them to either close their business or sell it. Making ends meet for the two ladies who are over forty and in fields that only get paid minimum wage is not allowing them provide for their families without having to decide which bills to pay each month. Dirk Mateer and Lee Coppock (2014) explain that increased minimum wage can act as a price floor and can cause short term and long term problems with unemployment when it is binding and the price floor is above the equilibrium wage. The business owners are forced to comply with the new wage increase. To recoup lost

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