Minimum Wage And Its Effect On The Society

My topic of interest is the effects of raising minimum wage in the U.S. Minimum wage is defined as the lowest wage permitted by law or by special agreement. In 1938, President Roosevelt signed a bill called the Fair Labor Standards Act of 1938, which set the minimum wage at $0.25. Although, overtime inflation devalued the amount of the dollar so it was raised there on. After raising the minimum wage the cost of living would keep going up every year. Also, currently advocates are arguing that the living wage should be 125% above the poverty line so that full time workers can afford a living.

The Fair Labor Standards Act was first introduced and passed on June 25, 1938 and became effective on October 24, 1938 within that bill minimum wage was first introduced (Grossman). The bill itself was an issue because the supreme court kept turning down the bill but after countless attempts, the bill was passed a year later. President Franklin D. Roosevelt introduced that bill in hopes for fair pay as he states “all our able-bodied working men and women a fair day's pay for a fair day's work” (Roosevelt). President Roosevelt basically wanted to end the injustice and inequality many workers faced when receiving payment. Minimum wage has been and is currently an issue because of the augmentation on the cost of living and low income many workers

The United States has a history of changes to the minimum wage law. “Early in the administration of the FLSA (Fair labor Standards Act); it became apparent that application of the statutory minimum wage was likely to produce undesirable effects upon the economies of Puerto Rico and the Virgin islands .In 1949, the minimum wage was raised from 40 cents and hours to 75 cents an hour for all workers. A 1955 amendment increased the minimum wage to $1.00 an hour with no changes in coverage. The minimum wage increased to $2.00 an hour in 1974, and $2.10 in 1975, and $

The minimum wage was established in the United States by the Fair Labor Standards Act of 1938 at 25 cents per hour. These laws are broadly supported by the public. Congress enacted these rules to combat “labor conditions detrimental to the maintenance of the minimum standard of living necessary for health, efficiency, and the general well-being of the workers” (Sharp, 2013 p. 71). The purpose and intent of

In 1938, the first national minimum wage laws in the United States were passed as part of the Fair Labor Standards Act, which served as “a floor below wages,” to reduce poverty and to ensure that economic growth is shared across the workforce. Today, many people who work for companies that pay at or near the minimum wage and remain near or below the poverty level rely on government health and food security and income programs to supplement their living expenses. Since 1938, there have been many additional policies to the Fair Labor Standards Act that have changed many things, such as increasing the national minimum wage numerous times to the currently salary level, which was set in 1997. The Fair Minimum Wage Act of 2007 was a policy to change the federal minimum wage from $5.15 to $7.25 in three additions, which began in July of 2009. (http://www.dol.gov/whd/regs/compliance/posters/minwagebwp.pdf)

The federal minimum wage laws were first created on June 25, 1938 through the Department of Labor and signed by President Franklin Roosevelt in the Fair Labor Standards Act (FLSA). This enacted the first $0.25

Minimum wage was established on October 24, 1938 after President Roosevelt signed the Fair Labor Standards Act. (Grossman) Minimum wage was set to allow working class citizens an opportunity to work a reasonable amount of hours for pay that would enable individuals to maintain a minimal quality life.

In the United States, the minimum wage is the lowest hourly rate that employers may legally pay to workers. It is a price floor. The forbearer to the minimum wage can be traced to medieval England. In 1348, the Black Plague decimated the English people. This caused a serious labor shortage and caused wages to sky rocket. King Edward III was inclined to set a wage ceiling contained in the Ordinance of Labourers (1349). Mihm, S. (2013, September 5). How the Black Death Spawned the Minimum Wage. The laws were eventually used to set a living wage. In the U.S., mandatory minimum wages were first introduced nationally in 1938. Department of Labor (2014, April 17) Grossman, Jonathan. "Fair Labor Standards Act of 1938: Maximum Struggle for a Minimum Wage". Many states also have

In a world governed by the rule of currency has a major effect toward the amount an individual owns. The current world economy, labor is required in order to supply services to whomever is willing to buy. The amount of money distributed and earned throughout the economy feeds the nation 's GDP, which shows the stability of the overall economy of that nation. There is an imaginary sequence that must be established in an economy in order to balance both labor and revenue to stabilize a country’s economy.

The first minimum wage laws dated back from 1912 and these laws covered women and children. During the U.S. Supreme Court case of Adkins v. Children’s Hospital in 1923, the “minimum wage law violated the right of contract under the due process clause of the Fifth Amendment” (Thies, 1991 para. 1). The Fair Labor Standards Act of 1938 provided the legal minimum wage standards and the first wage was 25 cents per hour as of October 24, 1938 (Douty, 1967). Additionally, this act intention was to transfer employment from children to jobless adults (Kocin, 1967). It is amazing that the first minimum wage only allowed certain groups of employees to receive the hourly minimum rate and was focused on interstate commerce. For example in 1967 the large farm employees were established as $1 per hour and prior to this, there was no standard. This was directly responsible because of the amendments to the Fair Labor Standards Act in 1961 and 1966.

The minimum wage in the United States has been an ongoing controversy for many years now. The first minimum wage was established in 1938 (Reich, 2015, P. 3). That minimum wage started out at .25 cents an hour; compared to today’s higher wage of a government standard of $7.25 an hour. Many people believe that the minimum wage should be more so that those who live below the poverty level in the United States will decrease, however in many other people’s opinions the minimum wage should be the same. The minimum wage should stay the same at a low $7.25.

In 1938, the first national minimum wage laws in the United States were passed as part of the Fair Labor Standards Act, which served as “a floor below wages,” to reduce poverty and to ensure that economic growth is shared across the workforce. Today, many people who work for companies that pay at or near the minimum wage and remain near or below the poverty level rely on government health and food security and income programs to supplement their living expenses. Since 1938, there have been many additional policies to the Fair Labor Standards Act that have changed many things, such as increasing the national minimum wage numerous times to the currently salary level, which was set in 1997. The Fair Minimum Wage Act of 2007, from the United States Department of Labor Wage and Hour Division, was a policy to change the federal minimum wage from $5.15 to $7.25 in three additions, which began in July of 2009. (U.S., 2009).

Minimum wage introduced by the congress as the subdivision of the Fair Labor Standards Act (FLSA) in 1938. At that time, congress set the minimum wage at 25 cents an hour. According to Tricia Hussung, Business Analyst, in 1968, adjusted for inflation, the federal minimum wage

Employment law dates back to the 14th century, with the first labour legislation, the Ordinance of labourers passed in 1349 and consisted of regulations and price controls issued by King Edward 111. The purpose of the legislation was to maintain wages at rates to be fixed from time to time by the Justice of the peace. The ordinance was written in

National Minimum Wage, introduced by the Labour Party as part of the Maastrict Treaty 1992. The treaty had requirements for there to be a minimum standard of living for all citizens. The National Minimum Wage met this requirement. Is was highly criticised before being introduced , but did not have the negative impact on business as was suspected. This was partly due to the level being set fairly low upon introduction. There are set rates within 3 bandings according to age.