Minimum Wage And The Laws That Govern Wage Rates Within The United States

The minimum wage is intended to protect workers and fight poverty. In the United States, the federal government sets the minimum wage at $7.25 per hour although many states set higher minimums. There is currently a movement to raise the federal minimum wage to $15 per hour. This movement is called the “Living Wage Movement” (Living Wage Resource Center, 2016) or the “Fight for $15” (Fortunato, 2016) and purports to address the problem of poverty in America.

The controversy over what to establish as the official minimum wage in the United States has been debated and argued over for many years. Due to inflation, the gradual increase of pricings due to a saturation of printed currency, the minimum wage for workers has to be increased in order to compensate for the ever-fluctuating value of the U.S. Dollar. Many today are rising to the conclusion that a minimum wage of fifteen dollars an hour is necessary. This motion is designed to keep those who have minimum wage income out of poverty and to increase the amount of money in the consumer’s pocket overall. However, this particular increase in minimum wage will lead to the inevitable downfall of the United States’ economy and be a catastrophe for the working class.

The federal minimum wage in the United States is currently $7.25 an hour. Increasing the minimum wage would lift approximately 900,000 people out of poverty. Forty-three million Americans are living in poverty due to low income, health care costs, childcare costs, college costs, and housing costs. The federal minimum wage should be raised because it keeps up with inflation and would scale down poverty levels.

What is minimum wage? It is the lowest amount that employers must pay their workers per hour of their labor, legally prescribed by federal government. According to Bureau of Labor Statics, United States Department of Labor, minimum wage was first introduced in United States by President Franklin Delano Roosevelt in 1938 called Fair Labor Standard Act (FLSA). The initial minimum wage was set to $0.25 per hour in 1938 (Grossman). The minimum wage was increased twenty-two times from 1938 to 2009. At present, the federal minimum wage has not changed since 2009, and is fixed at $ 7.25 (U.S Department of Labor). The raise of minimum wage becomes a controversial topic among citizen, some people are in favor of raising the minimum wage, while

A minimum wage is the lowest hourly wage that employers have to compensate the workers for their service. Currently the federal minimum wage is $7.25 per hour. However, many states also have their own minimum wage laws. In those instances, the employee is entitled to the higher of the two minimum wages. In this paper we will discuss the brief history of the minimum wage law and its current legislation. We will also analyze the pros and cons of raising the minimum wage, and the merits of each argument.

“Minimum wage is the minimum hourly wage an employer can pay an employee for work” according to minimumwage.com. The current federal minimum wage is set at $7.25 an hour. Not all states and cities hold the same minimum wage, some prefer to raise the minimum wage due to factors such as the cost of living. Usually, those who earn minimum wage are the youthful part of the working class. An exceptionally delicate subject, minimum wage is a highly controversial topic.

Minimum wage is now at a steady $7.25 per hour and shows no sign of increasing anytime soon. There are states right now at the time that are trying to raise the minimum wage, and see how this will effect the economy of the area.

The federal minimum wage has been raised 22 times since it was first put into place in 1938, and today’s minimum wage is $7.25 per hour. Today’s minimum wage is

Let’s start with the definition of the minimum wage. Minimum wage is defined as a legally mandated price floor on hourly wages, below which non-exempt workers may not be offered or accept a job (Minimum Wage 2015).

Currently the minimum wage in the United States is $7.25 per hour. However, many states choose to pay their employees

According to investopedia.com, “minimum wage is the minimum amount of compensation an employee must receive for performing labor. Minimum wages are typically established by contract or legislation by the government. As such, it is illegal to pay an employee.” The minimum wage is something that many people start off when commencing their own dependent life. Many lower classes depend on the minimum wage so that they can feed their families and try to live a prosperous life. The minimum wage in the United States can be underestimated, and many do not view it as an important role in the economy. The minimum wage in the U.S should be raised due to the positive effects it may have on the labor workers, the increase in productivity, and the benefits it may bring to minimum wage workers.

In this globalization era, as various countries see growth in their economy, there has also been significant differences in the wages set to employees in different countries. The lowest wages set by the law that are fixed to a particular amount which is also defined to be the price floor below which workers shall not sell their labor, has its own effects. The minimum wage law came into force as a matter of social justice amongst the low-wage workers, also to reduce exploitation and see that workers can afford the standard basic living expenses and necessities, not to increase the unemployment rate, indeed to increase the employment rate.

Minimum wage is the lowermost amount of compensation that any proprietor is officially allowed to pay to the worker. Supporters of minimum wage postulate that it will raise the standard of living for workers, decreases poverty, enhancement morale, and force corporations/business to be more effectual. In contradiction of minimum wage, those hypothesize it intensifies unemployment (predominantly inexperienced or amateurish workers), would be destructive to businesses because exceptionally high minimum wage would entail industries to increase the charges for their products/ services to acclimatize the additional expenditures of reimbursing higher wage, and enhances poverty.

Minimum wage is a difficult number to decide on because it affects different income earning citizens in different ways. According to Principles of Microeconomics, by N. Gregory Mankiw, minimum wage is a law that establishes the lowest price for labor that and employer may pay (Mankiw 6-1b). Currently, the minimum wage in the United States is $7.25 per hour. For many years politicians and citizens have argued on what should be the minimum wage that would benefit the economy and society in general. A minimum wage was first established in 1938 to increase the standard of living of lower class workers. To discuss what is better for the country and its citizens, people have to understand what is a minimum wage and what are its effects.

There are several positions highlighting the benefits and drawbacks of a minimum wage policy. The policy behind the use of a minimum wage and the effects of an increase in an established amount is debated every political cycle. The minimum wage is the term for the lower legal limit of pay (hourly, daily or monthly) that an employer can offer to an employee for their labor.