Minimum Wage Influence

Decent Essays
Societal Context: The state and federal minimum wage affect individuals' welfare and poverty in communities in various geographical regions across the states. Technological Context: Minimum wage have an influence on work practices of low-wage employees. Organizational Context: Minimum wage may impact orgaizantions since they might be compelled to utilize less employees or migrate to a state where the minimum is lower with the goal that they can increase profit, which ususally result in unemployment. Regulatory Context: Federal and state governments set minimum wage with intentions of lessening destitution rates and enhancing individuals' welfare. Market Contet: If minimum wage is expanded, economic incentives may urge companies to contract

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