Unemployment Problem Of Walmart
In his State of the Union Address, President Obama has called for this raise and has stuck in the house of senate committees, to raise wages to $10.10 by the year 2016. Most States like New Jersey, New York, Rhode Island, and Connecticut, has agreed to raise the wages to $10.10. To most people this would have been enough. Most fast food employees have had a strike for a $15 starting pay. Big companies like Wal-Mart and McDonald’s are known for paying their employees too little that they need assistant from the government and charities to survive.
Society knows that raising the minimum wage can be rewarding for the economy and its employees. This can help to increase millions of people’s pay. This would not only help those earning the minimum, but can also help those at a fixed increment above it (Coy & Berfield 2013). The adverse side of raising minimum wage is that a higher wage floor can up the prices for marginal workers, putting them out of work. Raising the minimum wage would do nothing for those that are unemployed. Over time, the focus was to help people, mainly families, so that they can become more …show more content…
When prices levels rises, each of the unit of currency buys fewer goods and service. Inflation reflects a reduction in the purchasing influence per unit of money. A loss of real value of exchange and in unit of account within the economy will take place. Inflation can be both positive and negative; the negative is that it may lead to uncertainty in investments and savings. It can also lead to consumers hoarding out of concern that prices will continue to increase. The positive side of inflation is that it gives people the opportunity to spend and invest, if they do not, their money will not be worth anything in the future. An increase in spending and investment can benefit the