Effects Of Raising Minimum Wage

First of all, one of the many groups that will be greatly affected by the raising of the minimum wage would be companies or businesses, especially small ones. Companies and businesses have a hard time adjusting with the amount of money they will need to pay their employees because they might not have the money for it. The companies can go into different direction because “Companies that are forced to pay their low-skilled employees a premium are faced with few options: drive up prices, reduce employee hours or cut some of the services they provide” (Eastlick 2009). Companies or businesses are push against a wall and forced to make a decision that will upset someone one way or the other. The businesses are still trying to make profit while