Minimum Wages
The federal minimum wage was introduced in 1938 during the Great Depression under President Franklin Delano Roosevelt. Each state in the United States has laws on minimum wage. The minimum wage set by each state is suppose to increase the ability to support standard living and reduce poverty. When defining poverty, the words inferior, insufficient and extremely poor comes up. Therefore, minimum wage is doing its part some what to the economy by keeping some workers at minimum wage from being extremely poor but still poor. The nation minimum wage is 7.25 an hour but how can a person live off minimum wage? This essay will explain how minimum wage affects the economy.
So who works for minimum wage and why? Usually the first job a person has is when they are in high school. Places that usually hires a high school student are fast food restaurant, grocery stores and some department store. When hiring a high school student expectation are extremely because they are hiring …show more content…
Raising the minimum wage would increase economic activity and spur job growth. How every there will always be a group that do not want to work and is comfortable with the government taking care of them. At the same time increasing the minimum wage would reduce poverty even if it is only by 20 or 30 percent. If company have to lay off workers because the work they are doing do add up to the labor work those people would be job less. A higher minimum wage would reduce government welfare spending but once again only by a little because people that will get laid off have to be put into accountability. Increasing the minimum wage would force businesses to lay off employees and raise unemployment levels. It would hurt businesses and force companies to close. Teenagers and young adults may be shut out of the workforce if the minimum wage is increased. Who would want to hire a young inexperience person and have to pay them 10 – 15 dollars an
The federal minimum wage was introduced in 1938 during the Great Depression under President Franklin Delano Roosevelt. Each state in the United States has laws on minimum wage. The minimum wage set by each state is suppose to increase the ability to support standard living and reduce poverty. When defining poverty, the words inferior, insufficient and extremely poor comes up. Therefore, minimum wage is doing its part some what to the economy by keeping some workers at minimum wage from being extremely poor but still poor. The nation minimum wage is 7.25 an hour but how can a person live off minimum wage? This essay will explain how minimum wage affects the economy.
So who works for minimum wage and why? Usually the first job a person has is when they are in high school. Places that usually hires a high school student are fast food restaurant, grocery stores and some department store. When hiring a high school student expectation are extremely because they are hiring …show more content…
Raising the minimum wage would increase economic activity and spur job growth. How every there will always be a group that do not want to work and is comfortable with the government taking care of them. At the same time increasing the minimum wage would reduce poverty even if it is only by 20 or 30 percent. If company have to lay off workers because the work they are doing do add up to the labor work those people would be job less. A higher minimum wage would reduce government welfare spending but once again only by a little because people that will get laid off have to be put into accountability. Increasing the minimum wage would force businesses to lay off employees and raise unemployment levels. It would hurt businesses and force companies to close. Teenagers and young adults may be shut out of the workforce if the minimum wage is increased. Who would want to hire a young inexperience person and have to pay them 10 – 15 dollars an