Pros and cons of raising a

The wage gap between women and men grew by 0.

Why raising minimum wage is good

Then expand that concept to a larger business with 10, employees. That means there are more opportunities for local companies to earn revenues by meeting the needs of these households. However, it can apply to many white-collar workers. Raising the minimum wage changes the employment market. What if the assistant manager is suddenly required by law to make as much as the manager? By raising the minimum wage, the reliance on programs such as these can be reduced. Labor costs are one of the largest expenses employers face. It can reduce the need for welfare programs. If Walmart, Costco, or Target voluntarily raise earnings instead, the impact of this issue would still be present, but not to such a significant degree.

This raises a sticky question: is it appropriate to raise unemployment to help people out of poverty? Second, it reduces income inequality while providing an incentive to work.

disadvantages of raising minimum wage

Continue Reading. When households spend their money at local businesses, then these dollars have almost double the direct and indirect economic value as they would with money spent at companies operating outside of the area.

As of July44 cities had also passed laws raising the minimum wage. List of the Cons of Raising the Minimum Wage 1. When the minimum wage is raised, it creates conflicts within the work environment. By raising the minimum wage, the reliance on programs such as these can be reduced.

Check the state minimum wage laws for these worker categories, although the federal law will take precedence if the amount is higher.

arguments for minimum wage

The laws apply to all employees. Employees who are more inclined to stay with a company longer could benefit from greater advancement, and from an overall reduction in job-related relocation expenses. Raising the minimum wage helps to increase revenues within each community. Is the minimum wage too high?

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Pros and Cons of Raising the Minimum Wage