the corresponding amount for the employee. Before the minimum wage policy was proposed and implemented‚ there are some employers would take advantage of workers by underpaying them. That is the reason why most of the countries enforced minimum wage policy and let employees are protected by the policy that receives a certain minimum amount for their labor. However‚ minimum wage policy will cause some influences in the society. Firstly‚ minimum wage policy can provide an acceptable standard of living
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Minimum wage can be defined as the lowest salary that employers may legally pay for an employees work or service. Minimum wage was first enacted in 1938; this law was called the Fair Labor Standards Act. The Fair Labor Standards Act‚ or the FLSA‚ established minimum wage to ensure that the lowest-paid workers would still receive a sufficient amount of pay. Evidently‚ minimum wage has increased over the years‚ but some argue that the current minimum wage is still not enough. It can be debated whether
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There are differences in opinion about the benefits and drawbacks of having a minimum wage. Supporters of the law say that it increases the standard of living of workers and reduces poverty. Others say that if it is high enough to be effective‚ it increases unemployment‚ mostly among workers with very low productivity due to inexperience. Since the law was established it has had only a positive impact on our economy. Minimum wage protects employees from being taken advantage of‚ encourages employees
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The federal minimum was originated in the Fair Labor Standards act signed by President Franklin Roosevelt on June 25‚ 1938. The law established a minimum was of .25 cents per hour for all employees who produced goods that were shipped in the interstate commerce. The wage is equal to $4.04 in today’s market. The Fair Labor Standards Act covered about thirty eight percent of the labor force‚ mostly in the manufacturing‚ mining and transportation industries. Congress expanded the coverage and increased
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Issue Minimum Wage Rate and Unemployment Levels - a Direct Relationship In any labor market‚ free or regulated‚ there is friction and rigidity that result in labor issues. With 11 million people unemployed‚ and millions more discouraged or underemployed‚ there is justification to believe that these high population levels represent a glitch in the American labor market (1). These basic statistics‚ coupled with the elementary economic theory of supply and demand‚ demonstrate that minimum wage regulation
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has been a debate on the subject of a statutory minimum wage. Different parties have different point of views about it. The unionists believe setting a higher amount can help to reduce the continuously increased wealth gap in Hong Kong‚ but the businessmen worry that it will increase the operating costs of their businesses. I will discuss the pros and cons of a statutory minimum wage in the following paragraphs. For the advantages‚ firstly‚ a minimum wage can force employers to offer reasonable
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The idea of a minimum wage has been around for quite a while. If increasing the minimum wage helps every one‚ no one would oppose an increase. In your opinion‚ who are helped and who are hurt by an increase in the minimum wage? In my opinion‚ more people are hurt by a minimum wage increase than are helped by it. Increasing the minimum wage helps some low wage workers in the short run but is detrimental to the majority of society in the long run. An increase in the minimum wage helps some
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“To everyone in this congress who still refuses to raise the minimum wage‚ i say this: if you believe you can work full-time and support a family with less than $15‚000 a year‚ go try it. If not‚ vote to give millions of the hardest-working people in america a raise”. This a very famous quote stated by former president of the United States Barack Obama. I most definitely agree with this statement . There should be no reason why a person should be working 40 plus hours every two weeks (full time)
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drawback of minimum wage hike. We saw many voters want the minimum wage to go up‚ so that they can live a better life. Many other articles also show that in the long term its effect would be devastating. Minimum wage has both good and bad effects. We have to take into account the worker that works for minimum wage. They barely have anything left after all the tax money is deducted. It’s hard to maintain a family when someone works for that little money. We have also seen some solutions to minimum wage problems
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I believe that minimum wage shouldn’t be raised. I think that if it is raised then people are going to want more and more and they won’t be as motivated to work. I feel that people will be getting a hand out and that it is not fair to those who work their backs off. If minimum is wage is raised that it would cause a lot of problems. Yes it would be nice for those who work‚ but there are always those who will slack off and get paid just as much as a hard worker. When minimum wage was created it was
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