Abstract The minimum wage has been the subject of intense debate for many years. Proponents contend that it improves workers' quality of life, reduces poverty, and boosts economic growth. Opponents counter that it causes higher unemployment rates and increases company expenses (Maverick, 2024). In this essay, I will examine the advantages and disadvantages of the minimum wage in the United States while examining aspects linked to and unrelated to employment. I shall draw attention to important subjects using relevant data and charts. Introduction A crucial component of American labor policy has been the minimum wage for nearly eight decades (Maverick, 2024). Throughout its history, the economic consequences of this have generated enthusiastic discussions. In this essay, I aim to examine the complex economic effects of the minimum wage in the United States, while weighing its benefits and drawbacks. This essay tries to look at the subtle differences between the arguments on both sides of the issue, which is something that should be acknowledged. Historical Content Political conflicts and labor movements have influenced the federal minimum …show more content…
Taxpayers may save money if the minimum wage increases because fewer low-paid workers may need to rely on government support programs (Maverick, 2024). It has been noted that workers' morale may rise in response to having a more significant pay rate. It can be difficult for business owners to motivate their employees, especially when those workers are underpaid and feel that their efforts will not lift them out of poverty. By improving their quality of life and raising their morale, employees can have more concrete advantages like lower expenses for hiring and training new hires and higher employee retention rates. Longer-serving employees could take advantage of better opportunities for professional development and save money on moving costs (Maverick,