Minimum Wage Impact

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The Impact of Minimum Wage on the Economy In the 20th century, was the first time that the United States created the minimum wage and would influence world-wide economies. Since then, this economic system has been a controversial topic all over the world between the workers and employers. Historically, we can analyze the positive and negative effects of raising the minimum wage. Moreover, literature researchers have also analyzed the impact of the minimum wage on the economy on social, economic, and professional aspects. Therefore, the following literature reviews will discuss these aspects which are fast-food unionization, the grocery stores wage distribution, low wage work in five European countries and the USA, minimum wages reduce employment possibilities, inequality trends, the consequences of doubling the minimum wage, employment effects of minimum and subminimum wages, certifying voluntary living wage employers, minimum wage and Mexican and Central American influx, and collective bargaining. First, the fast food industry is one of many factors that is impacted by the minimum wage. Matter of fact, the fast food workers demanded that the minimum wage is raised to $15 since the average wage for workers is $8.94 and this does not include “wage theft,” such as no overtime pay, not receiving proper break times, and missing hours from the paychecks. Additionally, low wages bring down collective action among the workers, the workers’ hours are never guaranteed and are sent
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