Fighting poverty is basically what every human being is doing or in fact trying to do during their lives. While this may be good news for those who rely on minimum wage, this more... Employees are considered the most important resource of the organisation. For example, in some European countries, the minimum wage is more than $10 per hour while in some other countries such as Chile it is less than $3 per hour. There are about 3 million workers in the United States that worked full time year round last year and still fell below the National poverty level. The United States Congress adopted the Fair Labor Standards Act in 1938. 7 Pages. If everyone earns exactly the same amount of money, then the income distribution would be perfectly equal. Workforce expenses are one of the biggest businesses have. Our editors will help you fix any mistakes and get an A+! Creating more jobs, or changing more the nature of jobs from just a part time job to a full-time job, may have a better financial effect on poor people than just raising wages. It’s almost as if the common citizen is always recovering from the latest collapse. Our leaders are constantly trying to come up with various solutions to this problem. Minimum wage, like other laws, are used to keep the economy in line. Companies should be forced to pay their workers what they deserve, and that is more than, salaries. If people are choosing to be employed with minimum wage, then they will remain in poverty, no matter what the raise in the minimum wage. Minimum wage is the lowest income that a person legally receives for any work. By raising the minimum wage, prices may go up as a result of the rise in wages. Labor economics, Minimum wage, Supply and demand 1748 Words | According to the Bureau of Labor Statistics, workers under age 25 make about 50% of all workers making the minimum wage. 3.0 Conclusion. Although there would probably be people who lose their jobs after raising the minimum wage, and it would be very difficult for them to find new ones as the cost for hiring worker will increase, therefore, the number of poor people will surge. (dictionary.com) As of right now the minimum wage that is established by the government is $7.25, while here in Colorado [...], To a certain extent, I agree that it is effective in reducing poverty because it will help some workers who really come from a poor background.
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