The Effects Of Raising The Minimum Wage

1298 Words 6 Pages
In today’s day and age, many of our life 's decisions and outcomes are heavily influenced by our financial status. The amount of money people make can affect their living and quality of life that they will have for them and their family. Although there are many different jobs that offer a good income not everyone is able to reach those due to everyone 's unique reasons. However, working at a minimum wage job is always a good starting point to start earning some money and eventually progress. Minimum wage jobs pay their employees the lowest amount of money that the state sets the lowest amount too. The wage is usually set quite lower compared to other jobs because the skill needed is usually low as well. Although the minimum wage is low due …show more content…
This would be one of the worst effects of raising the minimum wage because now minimum wage workers could continue struggling with the cost of living, and it will also raise the prices for all of the society as well, resulting in the same problem that there was in the beginning. Currently, there are people struggling with their payments, and although there is a possibility of people making more money with the minimum wage rising, the cost of living will go up because now companies will have to find ways for them to continue to make some profits. This will not only affect the people struggling the most as they will now have to pay more for the basic everyday items such as milk, napkins, gas etc.. This will also affect all of the society. The article “Raise the Minimum Wage, Raise the Cost of Living”, by Jeff D. Opdyke talks about how raising the minimum wage throughout U.S. history has had a correlation with inflation in the U.S economy. The research conducted by Jeff.D Opdyke shows that every time there was a raise in the minimum wage, 12 months later, there was a rise in inflation. Jeff.D Opdyke says ‘’raising the minimum wage will have a noticeable and possibly dramatic impact on inflation in America’’. The inflation is what will affect the economy as a whole. It will have negative effects on people 's lives as basic everyday household items will no longer have basic

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