The Economic Effect of a Minimum Wage Increase in the Fast Food Industry A question plaguing economists in the news the last couple of years is what would the effect of a minimum wage increase be for the workforce in the fast food industry. Better yet‚ how would it affect the fast food industry itself. There have been certain areas of the country that have already increased the minimum wage for fast food workers‚ but the debate is would it work elsewhere. With the increase in the demand from the
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During 2014’s annual State of the Union address‚ President Obama aggressively addressed the age-old debate of raising the minimum wage. The President has urged legislators to raise the federal minimum wage to $10.10 per hour to fight the ongoing battle of class inequality. Subsequently‚ Massachusetts legislators proposed a bill that would incrementally raise the state minimum wage to $10.50 over the next two years just weeks after the President’s address. The prospects of this proposed legislation
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there is not a federal minimum wage. Some states have their own minimum wage‚ but can be very low‚ for example‚ Georgia’s minimum wage is only $5.15 an hour. There are also four states that do not require a minimum wage. People are struggling to a day to day basis with putting food on the table for their family. If our country had a required federal minimum wage of $15 an hour‚ there would be fewer people who will struggle financially. Firstly‚ just by raising the minimum wage‚ People can afford to
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that the social benefits to the minimum wage increase is valuable for families‚ and it will profit this province as a whole. Economic aspects that further exhibit the advantage of increasing the minimum wage include assisting many who have buried themselves in debt a chance to escape with freedom‚ and persuades lower income workers to be less reliant on public services. Lastly‚ the political factors which reveal continued advantages to increasing the minimum wage in Ontario are justice for hard
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States of America? It’s because of minimum wage and it’s a huge problem in the U.S. right now because more than sixty thousand low-wage worker feel that they are not getting paid enough from their jobs to support their families. Also‚ full time college students and people with disabilities are paid under the minimum wage. These people have to deal with more problems throughout their daily life because they are earning less money compared to others. Minimum wage creates other issues like unemployment
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working at a low-wage job to gain experience and earn a little money. However‚ because of the minimum wage‚ many people get an education or learn required skills to shoot for a higher paying job making it a good reason why the current minimum wage isn’t so bad. It gives teenagers a chance to gain work ethics and experience and encourage others to work even harder. The current minimum wage should not be raised due to many reasons. If the minimum wage is raised‚ not only will the wage increase but also
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the workers earning minimum wage are somehow affiliated with the food service and preparation industry. People that earn the minimum wage in the United States are typically young workers‚ looking for part time jobs while still attending school. Nearly half of the 3 million workers earning at or below minimum wage are ages 16 to 24 (Drew Desliver). The city of Seattle recently made a change involving the payments of minimum wage workers. They announced that all minimum wage workers will now be paid
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America. We cant say Ms. Criswell is lazy and doesn’t want to work‚ so how else can she bring home more income if she is limited to what is available. If minimum wage was to be increased‚ this would allow people to bring home more income and there are concerns and I will address them in the following. According to minimum-wage.org‚ a full time minimum wage worker in California working 40 hours a week‚ 52 weeks a year‚ will earn $64.00 per day‚ $320.00 per week‚ and $16‚640.00 per year. The national poverty
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The Economics of the minimum wage On August 2013‚ 3.5 million Bangladesh garment workers got their 36 dollars/month minimum wage raised by 80%. This was a response of the Bangladeshi government to April´s collapse and burn of the Rena Plaza factory where hundreds of workers were killed. This was covered by the international media all over the world and forced western retailers to improve working conditions in their supplier’s factories there. 10.000 miles away from Bangladesh‚ the richest country
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National Minimum Wage Over the last few decades the economy has changed greatly but one thing that hasn’t changed much is the minimum wage. In politics the national minimum wage is a huge debate. Not only because it affects workers‚ but also it affects businesses. In places like Denmark the minimum wage is $20 USD while in the United States it is $10.10. The minimum wage needs to be increased because right now it doesn’t account for inflation‚ and because the present minimum wage is not enough
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