Essay on The Effect Of Minimum Wage On The Workplace

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An increase in minimum wage has been a debated topic for decades upon decades. If raised, would the effects be damaging or helpful in relation to employment and how working families would be affected if such an increase in minimum wage was to occur.
Employment, in terms of employment rate, could go either up or down. If the minimum wage was increased by 10%, than it would come with a 4.6 to 9% decrease in employment. This being a consequence of raising the meaning wage, a lack of job creation would follow. Based off experience and qualifications, job creation would have a substantial decrease, employers would also subside from hiring new employees based of an increase in minimum wage; though increasing the minimum wage could result in closing and/or sustaining the inflation gap. These could all very well happen, depending on if they do and what the severity of the results that would follow are up for debate. Many families are dependable on minimum wage, its guaranteed pay secured at the rate of minimum wage. It promotes a basic living that low-income families can base an income off, provide food for their family, and a shelter over their heads (Pros & Cons: Minimum Wage). A minimum wage increase would also affect business as well, if raised; the Federal Budget could include a reduction of real income seen by business owners (Effects on minimum wage increase on employment/family income).
Working families will also witness substantial changes based off the minimum wage being…

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