Reasons To Increase Minimum Wage

There is an issue that people want to make to increase minimum wage. They want to raise the minimum wage to make it easier to reform the process and ultimately reduce subsidies. For many people who work at full-time jobs for minimum wage, there is no way for them to make ends meet except by taking government subsidies. They argue that, if the minimum wage is increased, the minimum wage can help eliminate the need for government welfare. The government should increase the minimum wage so people can make a livable wage to support themselves financially and it would help for single parent families. Today there are debates whether the minimum wage increase makes society better off or make it worse. Some economist believes raising the minimum wage can move society away from the poverty line, and it has been a proven way to boost our economy. The evidence that economist received from analyzing the minimum wage is it that it does not lead to higher unemployment rates. Rather than increasing unemployment rate it has shown to increase productivity. Since unemployment rates do not indicate an increase, we can assume that employment rate might decrease. Studies showed raising the minimum wage failed to demonstrate any signs of falling employment because of the wage being increased laborer will become more productive and …show more content…
I believe it is a poor decision. Some people do not know how increasing wages can affect people a standard way of living. After observing economic concept for two-year, I realized how poor of a decision it would be if the minimum wage were to increase. First and foremost, you would be able to see the effect of raising the minimum wage on supply and demand curve. According to the economic theory if we increase the wages the employer demand for unskilled workers will decrease. This increase in the unemployment rate for unskilled workers and increase firms demand to hire a skilled