Effects of Minimum Wage Increases Essay examples

2146 Words Mar 8th, 2015 9 Pages
Table of Contents

Abstract ………………………………………………………………4
Chapter 1 Introduction ………………………………………….5
Chapter 2 Literature Review ……………………………………6
Chapter 3 Analysis ………………………………………………7
Chapter 4 Conclusion …………………………………………...10
References …………………………………………………………..12

Abstract This paper discusses some of the additional effects raising the minimum wage income has on society. The United States low wage workers, namely the fast food industry workers are currently demanding higher wages. We will discuss the effect of those higher wages to businesses, the workers and those who we would not think to be affected.

Effects of Minimum Wage Increases
Chapter 1
Introduction
Anyone who watches the local or national news has heard
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Congress has set the standard for the country’s minimum wage, however each state has the right to establish their own minimum wage amount. Currently Washington State has the highest minimum wage amount set at $9.32 per hour while the majority of states have abided by the national requirement of $7.25 per hour (CNN). Florida’s minimum wage is $7.93 per hour (CNN).
When the minimum wage has been raised in the past, usually it was during a time of a healthy economic growth rate and low unemployment (CNN). When the rate rose in 1990 the unemployment rate was 5.4 percent. When it rose again in 1996 the unemployment rate was at 5.1 percent. Unemployment was only at 4.4 percent during the raise in 2007 (CNN). Today the national unemployment rate is 5.8 percent, which is the lowest it has been since the 2008 economic recession. The highest unemployment rate since the recession was 10.0 percent in October of 2009 (BLS).
Chapter 2
Literature Review (2013). The study of African Americans are still concentrated in neighborhoods with high poverty and still lack full access to decent housing on Economic Policy Institute supports the data that many American who live in neighborhoods of high poverty rates are minorities. This study supports the theory that those teenagers who will be most affected by the loss of part-time and minimum wage jobs will be poor and therefore minorities. The State Factor (2014) an

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