Discussing arguments in favour and against minimising wage. Just like any other commodity market‚ the labour market consists of the interaction of the demand side (employers/job creators) and the supply side (employees/job seekers). The interaction settles at a market wage rate that both sides of the labour market agree to work with i.e. the equilibrium wage. There are times that the government or an intervening regulatory party assess that the agreed upon wage rate is too low for workers to earn and sets
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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 have
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expensive with growing minimum wage. In my short life most things have increased in price. What’s surprising is that the extra money in wage does not usually buy its equivalent in goods from forty years ago. The toys‚ food‚ or trinkets today are more expensive compared to modern minimum wage. More expensive things like cars and houses though have increased a good deal. As things have been increasing in money‚ the amount for something does not end up proportional to what it used to be. The normal income
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List the aspects of employment covered by law The law in UK covers all these aspects; Minimum wage‚ Hours worked‚ Discrimination‚ Health and safety‚ Holiday entitlements‚ Redundancy and dismissal‚ Training‚ Disciplinary procedures‚ Union rights and consultation‚ among many others. Labour law covers the deal between employee and employer. Health and safety laws cover the work conditions‚ and minimum wage and other laws set basic compensation levels. 1.2. List the main features of current employment
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affirmative speaker has already introduced is that we should abolish special youth wages. However‚ my team disagrees with this and we believe that we should keep the youth wages that our country already has. Our team agrees with the definition the affirmative team presented. As the first speaker‚ I‚ Sheryl George will be discussing the employment and educational problems we would in face in Australia if youth wages were abolished‚ I will also be speaking about the slippery slope of changing laws
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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 pay
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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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upsurge in the minimum wage is a constructive step for the federal government to take‚ the most recent wage trek could result in some harmful effects. President Obama stated in September 2014‚ “An increase in the minimum wage will boost income for the poorest workers without the danger of creating more unemployment.” Is this statement about an increase in minimum wage really accurate? There are two very distinct sides to the debate about minimum wage. The push for a minimum wage raise is a major issue
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income of $1‚000 a day‚ ...tell you that a wage of $11 a week is going to have a disastrous effect on all American industry” (DOL.gov). This was 76 years ago by a Democratic president whose rhetoric sounds like something our current Democratic president would say. President Roosevelt signed the Fair Labor and Standards Act on Saturday June 25‚ 1938 and which effectively ended child labor in America and mandated an hourly wage of twenty-five cents which affected one in every five workers (DOL.gov)
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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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