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Raising Minimum Wage Essay

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Recommended: Positive and negative effects of minimum wage

There is ongoing debate about the potential effects of raising the minimum wage. The debate has always been on the priority list for many groups, but since COVID 19, it has been especially important. Some studies have suggested that raising the minimum wage could lead to job losses, particularly for low-skilled workers. Other research has found that raising the minimum wage can have positive effects, such as helping workers' well -being and increasing the purchasing power of low-wage workers. Although some research supports increasing the minimum wage, there is more evidence against. Raising the minimum wage would result in major job loss, would hurt the economy, and would lower the working hours for a low-waged worker.

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Raising the minimum wage hypothetically could help workers' well -being. Although they think this, there is a study conducted by a doctoral student in epidemiology, which “found that an increase in minimum wage really didn’t have a huge impact on health overall, which surprised us” (Buszkiewicz). This raise in the minimum wage isn't helping the health of the workers at all. These employers can't afford to give their employees any health funds or care so they are all on their own. Now that they have to buy it themselves they will start running out of money quicker. Another popular argument in favor of raising the minimum wage is that it will increase the purchasing power of the low-wage workers. Again, there is evidence that disproves this almost immediately. In the article “What Are the Pros and Cons of Raising the Minimum Wage?” the author states, “Raising the minimum wage would likely result in wages and salaries increasing across the board” (Maverick). As the minimum wage increases, employers have to pay more to low-wage workers. This will make them have to increase their product prices. This will make other workers (from higher paying jobs) request a pay increase. This inturn will not help the purchasing power of low waged workers, but will actually do the complete opposite. It will cause inflation and only hurt the people. The negative effects of raising the minimum wage are too big to ignore, raising it will hurt America and its people more than people

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