Minimum Wage And Unemployment Analysis

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According to Hanauer (2015), numerous economists have conducted studies in order to better understand the concept o minimum wage as well as the employment effects of raising it. The results overwhelmingly suggest that raising the minimum wage has a very little effect on employment. He added that low wages are associated with high level of employee turnover. Those workers that earn low wages tend to be less committed to their jobs than better paid workers and are less likely to stay at their jobs or a long period of time. And with that, he affirmed the studies which show that higher wage can substantially reduce turnover as well as the cost associated with replacing lost workers. Krisberg (2016) also believe that minimum wage hike will bring

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