The Pros And Cons Of Raising Minimum Wage

Is the high living make the minimum wages to raise rapidly? People that have a good education and experiences could help them to have a higher entry-level for a stable job position. The gap between the rich and poor are aggressively increasing which that fact that price of property is increasing yearly. Obviously, people who are “stakeholder” in large corporation companies would want a raise in the cost of employee wages, if the minimum wages finance is also to be raised. There is a source stated that the minimum wages deal phrases are increasing slowly. In 2022, the minimum wages would likely to be excepted to fifteen dollars, so it could help people to keep up with “California’s high cost of living (Calefati and Salonga, 2017).” Since the exponentials growth is expanding in price, I think that raising the minimum wages to fifteen dollars will …show more content…
Basically, the short run implicates that in a period of time when one input factor cannot be changed; whereas, the long run is a time period which all of the factors of production can be change differently. The first labor that I wanted to mention about full time and part time employment. For example, if the price level in the short run is increasing, then the output would also increase wages. However, the transition between the part time and full time workers only when there is a dramatic revocation intersection increase change in part time employment. This rescission could lead part time workers to unwillingly state rather than become unemployed. In the long run, the full time and part time employment show a different movement in an opposite direction because being part time to full time could be a different change in wages for the employee income to become stable. Within the price level, the real wage could eventually have fallen and bargain for a higher nominal wage, so the output could