Essay about Minimum Wage Should Increase The Unemployment Rate
Textbook definition of minimum wage by (Miller), “minimum wage is the lowest hourly wage rate that firms may legally pay their workers. This ensures that individuals are not being under paid by companies. I chose the topic of minimum wage for a variety of reasons. Minimum wage affects many individuals in our nation and throughout the world. It affects the majority of adolescents seeking part time jobs in high school and attending a university or community college. Since, I am currently in college who worked part time last semester I thought it would be beneficial for me to do some research on the topic of minimum wage. I am looking for how minimum wage affects individuals around my wage and older adults as well. Also, I want to determine and research how changing the minimum wage rate would affect our economy and nation. My goal is to show how my research demonstrates that raising the minimum wage would increase the unemployment rate and negatively affect the economy.
In my research I am trying to determine whether or not increasing or decreasing the minimum wage rate would positively or negatively affect our economy. To reiterate what minimum wage means it is the lowest hourly wage that corporations can legally pay their employees. I came across several articles and sources that involves minimum wage and show the effect it has on the economy. A source that I…