the minimum wage controversy has been a topic of debate to whether it produces positive or negative effects on society. To begin with‚ the need for a country to have a minimum wage law was stressed by the international labour organization in 1928. Twenty years later‚ Australia and New Zealand passed the act and we have been using the term “minimum wage law” ever since. At this point more than 90% of all countries have some kind of minimum wage legislation. Supporters of the minimum wage say that
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Minimum wage and why it should not be raised was chosen because minimum wage should stay the same. Minimum wage is effective to people in many ways. Raising minimum wage is going to make businesses shut down and people lose their jobs. Many people want minimum wage to be raised because they do not believe they get paid enough. Minimum wage is not for people to raise a family off of‚ it is for high school and college students that cannot get a good job. People think they should be able to live off
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federal minimum wage‚ which is $7.25. Many states across the country are now fighting for a higher minimum wage for everyone. Some states‚ like California have already started to raise the wage‚ and are currently on track to make a $15 minimum wage the law in California. Many believe that raising the minimum wage will bring thousands of people out of poverty and help low-income families who are above the poverty line. With a potential minimum wage hike‚ there would be catastrophic results. Minimum wage
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risen‚ the minimum wage has remained stagnant‚ creating historic profit margins for companies that employ minimum wage workers. This uneven balance of the distribution of wealth is causing a significant amount of our population to suffer below the poverty line. Today‚ I urge you to vote in favor of this legislation in order to ensure that every single citizen of our country will be able to live a comfortable life‚ above the poverty line. The first benefit of raising the minimum wage is that such
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Good afternoon every one‚ the business area of our project is minimum wages‚ the specific project topic is The Positive Aspects of Minimum Wage Law. Nowadays‚ rent‚ transport fees and electricity bills are all on the rise and grassroots are difficult to maintain a decent living and have heavy financial burden on family. Also‚ many people criticize that some employers had more tricks to exploit workers‚ which drives the salaries of low-skill workers are below $20 per hour. This is an unfair remuneration
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This paper develops an approach to investigate the impacts of minimum wages on youth unemployment. Youth employment seems to be an important issue within economies around the world‚ but this papers focus will be within the United States. On August 18th‚ 2015 the U.S Bureau of Labor Statistics reported that from April to July 2015‚ the number of employed youth 16 to 24 years old increased by 2.1 million to 20.3 million . But the question isn’t why or even how‚ it’s what is to come next. Each time
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Minimum wage has helped shape our economy and nation as it is today. In the United States‚ we have two different types of minimum wage‚ federal and state. But what is minimum wage? “Minimum wage is the lowest hourly rate at which most employers may legally pay their workers” (“Federal Minimum Wage”). The federal minimum wage is the government’s minimum wage‚ but each state also has their own minimum wage. “The first federal minimum wage was legislated to boost wages to ease the hardship of workers
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realize that it’s just the minimum pay. This is just one of many working class citizen’s stories right now living in the United States‚ with job cuts people citizens are willing to take whatever jobs are available‚ to sustain a suitable life style for them. Today I am going to talk to your briefly about the history of minimum wage‚ why it should be increased‚ how it can help the economy ‚ the benefits of increasing minimum wage‚ what states have recently increased minimum wage‚ how the government is
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What are the overall effects of a binding minimum wage in a competitive labour market? What might soften your interpretation? Introduction Minimum wage is a price floor which is applied to the labour market which makes it illegal to trade at a price lower that the specified level which the rate is set at. It is applied in the United Kingdom and most countries of the world. Information In January 2010‚ 20 of the European Union’s 27 Member States (Belgium‚ Bulgaria‚ the Czech Republic
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Advantages of Minimum Wage • Reduce the income gap between poor and rich Minimum wage helps to close the income gap between the rich and poor. Although the society still has a significant difference‚ the minimum wage at least puts a floor in the gap so it does not develop wider. Narrowing this gap is important to maintaining a population with equal freedoms. In the short term‚ minimum wage is not effective to reduce the income gap between poor and rich. But in the long term
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