Minimum Wage in Countries - 773 Words

Minimum wage is the lowest wage permitted by law or a special agreement that can be applied for an employee. Governments set minimum wage on business for reduced poverty and increases in the standard of living. In 2009 from six dollar and fifty five cents to seven dollars and twenty five cents, minimum wage has increased and has been beneficial up to the minimum wage. In 2014 it will be a dollar up so it is going to be tough. The issue is whether to raise the minimum wage or not. For this reason I think it would be beneficial to the economy if the minimum wage is stay to seven dollars and twenty five because it will decrease the unemployment rate, increase product price and help youth and unskilled workers. During the Great Depression was devastating time for America with families having no income? Increasing the minimum wage makes employers want to hire less minimum wage earners. Hiring people becomes more high-priced so you change to something else. Minimum wage causes unemployment a lifelong depressing effect on the earning of many of those forced into unemployment. It harm in particular the least skilled most disadvantaged members of society Instead of hiring two people to plow the snow with push snow plowers, the employer buys a riding snow plower and employs one person, who, with the faster and better riding snow plower, can mow more plows at a quicker rate, then removing the need for a second worker. In January 1, 2012, California’s minimum wage was set as eightShow MoreRelatedMinimum Wage Argument Jack Page 2/26/13 One of the hot topics recently in this country is the600 Words   |  3 PagesMinimum Wage Argument Jack Page 2/26/13 One of the hot topics recently in this country is the question, and debate, of should minimum wage be raised? With both sides wildly arguing about raising the minimum wage being good or bad, and the truth behind whether it will do more good than harm to this country. The question still remains with should it be raised? For supporters of the wage being raised they are excited for what the White House’s Council of Economic Advisors stated. â€Å"White House’s CouncilRead MoreFederal Minimum Wage Should Be Increased1180 Words   |  5 Pagesto come to conclusions that the federal minimum wage is excessively low. The government can stand to help people gain more money, resulting in a less poverty-stricken country. The cost of living or gaining has increased significantly over the past twenty years, and the minimum wage, for most isn t enough for them to support themselves. There have been efforts to increase the federal minimum wage, but none has succeeded in getting approved. Minimum wages are too low for a human, to provide forRead MoreRaising The Minimum Wage? Essay1217 Words   |  5 PagesThe minimum wage is one of the most discussed issues around the country. Everyone has a different opinion if raising the minimum wage would help families across the country to have a better lifestyle or if would cause an unbalance in the economy. Democrats and Republicans have a different view on this issue, while Democrats supports raising the minimum wage by $15 an hour, Republicans have stated that they refuse increasing the wage because it would leave different factions of Americans outside ofRead MoreMinimum Wage Of The United States Of America And Australia1031 Words   |  5 PagesIntroduction In this globalization era, as various countries see growth in their economy, there has also been significant differences in the wages set to employees in different countries. The lowest wages set by the law that are fixed to a particular amount which is also defined to be the price floor below which workers shall not sell their labor, has its own effects. The minimum wage law came into force as a matter of social justice amongst the low-wage workers, also to reduce exploitation and see thatRead MoreThe Impact Of National Minimum Wage On South Africa s Income Inequality Essay1525 Words   |  7 PagesThe impact national minimum wage would have on South Africa’s income inequality should it be implemented. South Africa is still considered one of the countries which still consist of high income inequality. Economists argue that inequality is the most unavoidable part of the economic development and that it continues to increase in developing countries due to economic growth (Keeton, 2014). Inequality is a problem in countries such as South Africa, because it shifts the attention from bigger andRead MoreMinimum Wage : The United States Alone Essay1161 Words   |  5 PagesNovember 2015 Minimum Wage In the United States alone, the amount of people in poverty is 14.5%. That equates to 45.3 million people in 2013. In a country like America, one of the world’s superpowers, it’s embarrassing to admit. But the main issue is to fix issues like these with the minimum wage and welfare. The minimum wage applies to workers who got a job whether because they were in school or because they had not gone to college and had no other option. Most of the country lives off asRead MoreEffect Of Raising Minimum Wage1215 Words   |  5 PagesRaising Minimum Wage The minimum wage in this country has been a controversial issue. Many people believe it will help reduce poverty and boost the economy. However, they are not looking at the downfalls this will bring to our country. This could make the unemployment population rise, it will raise prices of other things, and would have little effect on reducing poverty. Raising the minimum wage would have a negative influence on our country. This movement throughout our country is beingRead MoreThe Labor Standards Act Of 19381638 Words   |  7 Pagesearns the minimum wage still lives below the poverty line. That’s wrong. Tonight, let’s declare that in the wealthiest nation on Earth, no one who works full time should have to live in poverty.† —President Barack Obama. For the purpose of keeping America out of poverty and increase consumer purchasing power in order to simulate the economy, President Franklin Roosevelt signed the law of minimum wage on June 25, 1938 as a part of the Fair labor Standards Act of 1938. The first minimum wage was $0.25Read MoreThe Effects of a Minimum Wage Law655 Words   |  3 PagesWhat are the Effects of a Minimum Wage Law? A minimum wage is the lowest amount of money per hour that the government of the country assigns employers to pay their employees. The minimum wage is based on an idea that the employers have a responsibility for their employees to live in a reasonable standard of living. The minimum wage laws have directly effect to most industries because of the potential of decreasing their budget. As a result, the minimum wage is still an issue that people researchRead MoreAdvantages And Disadvantages Of Minimum Wage In Taiwan1541 Words   |  7 PagesIntroduction Nowadays, minimum wage is very important for workers in this world. In addition, minimum wage is also a core element of public policy in lots of countries. For example, minimum wage has become a hot topic in Taiwan recently. The Taiwanese complained that the working hours are too long, and the wages are too low. Because of that reason, workers in Taiwan have come forward to protest this policy. Therefore, according to this example, minimum wage has become an issue that cannot be ignored