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Pros And Cons Of Minimum Wage

1002 Words5 Pages

Increasing the Minimum Wage would also increase the Quality of Workers’ Efficiency and the Economic Growth

People took really serious about salaries, payments and benefits that a job could offers before choosing that particular job. I strongly believe that the minimum wage will affects the quality and the efficiency of someone’s work. Increasing the minimum wage will increase the quality and efficiency of the workers while lowering the minimum wage will somehow results otherwise.

Minimum wage is something that is flexible, it depends on the economic growth and the costs of life in that particular area. As it stands, the minimum wage is now $7.25 but the Congress propose that the minimum wage should be increased to $10.10 (http://www.marketplace.org/topics/your-money/ask-money/raising-minimum-wage-good-idea-or-bad-idea).

Basically, there are some pros and cons regarding the Congress’ proposal to increase the minimum wage. Yes, some people would say that job opportunities will start to decrease as the minimum wage increase. But somehow that claim is not approved by the Economists, and the Experts. Based on the United States Department of Labor’s website, a review …show more content…

Based on the United States Department of Labor’s website, studies from independent economists has found that a higher minimum wage has little to no negative effect on employment. And over time, real GDP per capita has steadily increased, and do know that the minimum wage has been raised around 22 times ! (http://www.dol.gov/minwage/mythbuster.htm) Thus, we can safely say that increasing the minimum wage would have no tremendous effect on the economy growth or perhaps too little that we can just overlook it. I support this claim because even history and facts have shown it. The world’s economy is expanding and diverse, job opportunities will surely expanding too so I think that’s one of the factors that the GDP still steadily

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