Minimum Wage Should Be Increased
College kids work their butts off in order to pay for their tuition, yet they still can't afford it. Their jobs don't pay them enough money to pay for fees, food, rent, etc. It's the same for adults too. To prevent this, the minimum wage should be raised. This could lead to increasing economic activity and jobs. Other benefits are higher school attendance and lower high school drop offs. However, it could increase layoffs and unemployment. Even though raising living wage can start some problems with more experienced workers, people gain more money to afford their needs.
Some pros are larger finance production and employments. Bigger assemblies lead to more workers. Employments lead to people earning more money to afford their needs. According to the website, "Economist from the Federal Reverse Bank of Chicago predicted that a $1.75 raise in the federal minimum wage would increase aggregate household spending by $48 billion the following year, thus boosting GDP and leading to job growth." A couple benefits of base pay are growth in commercial manufacture and careers. …show more content…
Expanding of educational institution presentence and reducing high school drop outs are another excellent thing about minimum wage.
Parents won't have to worry about their kid/kids not being successful in the future. Building up appearances in schools is part of the reasons why colleges choose their students. The web page states, " Increasing the minimum wage would allow teens to work fewer hours for the same amount of pay giving them more time to study and reducing the likelihood that they would drop out of high school." Fewer drop outs and greater participation is a possibility that would happen if the minimum wage is
lifted.
However, there is a flaw that could happen. There will be massive layoffs and unemployment. People will have to struggle finding another task. Based on the network, "In a survey of 1,213 businesses and human resources professionals, 38% of employees who currently pay minimum wage said they would lay off some employees if the minimum wage was raised to $10.10." Although this could occur, people get higher salaries.
Despite the fact it can cause some complications, people collect greater pay. Though, it can extend layoffs and unemployment. It can cause expansion in budgetary action and business positions. There will be a gain of students that will start attending school more often and loss in drop outs. While there are some issues, people obtain extra cash.
Some pros are larger finance production and employments. Bigger assemblies lead to more workers. Employments lead to people earning more money to afford their needs. According to the website, "Economist from the Federal Reverse Bank of Chicago predicted that a $1.75 raise in the federal minimum wage would increase aggregate household spending by $48 billion the following year, thus boosting GDP and leading to job growth." A couple benefits of base pay are growth in commercial manufacture and careers. …show more content…
Expanding of educational institution presentence and reducing high school drop outs are another excellent thing about minimum wage.
Parents won't have to worry about their kid/kids not being successful in the future. Building up appearances in schools is part of the reasons why colleges choose their students. The web page states, " Increasing the minimum wage would allow teens to work fewer hours for the same amount of pay giving them more time to study and reducing the likelihood that they would drop out of high school." Fewer drop outs and greater participation is a possibility that would happen if the minimum wage is
lifted.
However, there is a flaw that could happen. There will be massive layoffs and unemployment. People will have to struggle finding another task. Based on the network, "In a survey of 1,213 businesses and human resources professionals, 38% of employees who currently pay minimum wage said they would lay off some employees if the minimum wage was raised to $10.10." Although this could occur, people get higher salaries.
Despite the fact it can cause some complications, people collect greater pay. Though, it can extend layoffs and unemployment. It can cause expansion in budgetary action and business positions. There will be a gain of students that will start attending school more often and loss in drop outs. While there are some issues, people obtain extra cash.