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Essay On Minimum Wage

1235 Words5 Pages

There has been a discussion over the minimum wage for years, however just recently the decision was made by the United States government to raise the minimum wage from around seven or eight dollars (depending on state) to twelve dollars by 2020. Most people in support of this wage increase are minimum wage workers who find it difficult to live and support themselves and a family on such a small income. With that argument, the New York Post replies with “The minimum wage is by design an entry-level wage; it is not supposed to be permanent” (Trugman 1). Minimum wage jobs are meant to be for young adults not yet settled into a career, people temporarily out of work, or for those who are retired and could use the extra income. Despite the point …show more content…

However, the Congressional Budget Office estimates that increasing the minimum wage to around ten dollars hourly will cost the U.S.about 500,000 jobs (Syrios 1). The wage increase is often advertised as something to help those that are impoverished or struggling economically. However, the wage increases will make it so that firms won’t want to hire new people; they will utilize more automation verses paying new employees more money. The most effected group by this change is teens, where half of those paid by minimum wage jobs were those 25 years old or younger (Syrios 1). Most teens, who are usually low-skill workers, will be less often hired compared to those with more experience if they will be paid more money. This will eliminate a lot of jobs that teens rely on to pay for school or other expenses while still trying to become independent and stable. A study evaluating the effects of minimum wage increases on teens/low-skilled workers by Jeffery Clemens and Michael Wither found that a minimum wage increase “reduced the national employment population ratio by .7 percentage points” which is about 1.4 million jobs (Sryios 1). Although the increase in wage is intended to increase jobs, it will end up decreasing them; especially for those who are employed in them most

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