I found an intersting article from FOX NEWS today about Minimum wage and how that affects you. Many studies have been done on this area an lawmakers have fought and argued over it for years. Now, minimum wage is at $7.25 and likely to stay there or grow a bit in the near future. So what doe this have to do with job seekers? It will affect you more than you know.
For example, if you work at a minimum wage fast food chain and everyone’s pay has to be raised to meet a certain level- you are going to pay more for your food. Managers who make more than minimum wage will not get a raise or be forced to take a pay cut because of the extra money being paid to “minimum wage earners”. The article mentions that the two studies by Newmark and Wascher have concluded that it actually cuts down job opportunities and even wages over time.
As a job seeker, it is nice to know that you will be treated well and fairly with an honest wage. I agree that treating people well and paying them well are good things. I also think that we should “think” about the economic ramifications in the future if we are going to raise minimum wage again. If raising the minimum wage is going to hurt the economy and force small businesses out of business, then we need to rethink the strategy behind this.
What do you think about minimum wage? Good or bad.
Read the whole article here
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Filed under: Job Hunting , money, wage, work
