The Importance Of Raising Minimum Wage
The minimum wage should not be raised for many reasons. The minimum wage in Florida as of 2015-2016 is $8.05/hr. Minimum wage is a minimum amount of money a worker shall get per hour. Many people want the minimum wage to raise but it shouldn’t because “more than half of the minimum wage workers are under the age of 25, and many are students trying to pay their way through school”(Brian Brenberg The Kings College.) Raising the minimum wage can also put small companies in debt. Also if the minimum wage is increased, more skilled and educated workers will want a pay raise as people who are unskilled and uneducated are awarded a higher pay raise because of the gov’t. Also raising the minimum wage would not impact poverty levels.
Small companies
will be affected the most if the wage increases. “These small companies are affected directly because most of the earning go towards paying for operating expenses, such as equipment, supplies, lease or mortgage, credit lines, inventory, and employee wages and benefits”(Owen Richason Demand Media.) Most of small business money goes to employee wages and benefits. Also if raised they have to either hire less people or let people go which directly impacts unemployment rates. This would be huge for the economy in a negative way.
If the minimum wage was increased skilled and educated workers would want a pay raise which makes sense considering they are skilled and good at what at they do. Whereas if it goes up the unskilled and uneducated would be awarded a higher wage not for their skills but because of the gov’t. “If this happens it would increase volatility in the labor markets as experienced and skilled workers are forced to reassess their value higher which may not be accepted by employers”(Owen Richason, Demand Media.)
Small companies
will be affected the most if the wage increases. “These small companies are affected directly because most of the earning go towards paying for operating expenses, such as equipment, supplies, lease or mortgage, credit lines, inventory, and employee wages and benefits”(Owen Richason Demand Media.) Most of small business money goes to employee wages and benefits. Also if raised they have to either hire less people or let people go which directly impacts unemployment rates. This would be huge for the economy in a negative way.
If the minimum wage was increased skilled and educated workers would want a pay raise which makes sense considering they are skilled and good at what at they do. Whereas if it goes up the unskilled and uneducated would be awarded a higher wage not for their skills but because of the gov’t. “If this happens it would increase volatility in the labor markets as experienced and skilled workers are forced to reassess their value higher which may not be accepted by employers”(Owen Richason, Demand Media.)