Minimum Wage In Australia Essay

The minimum wage requires employers to pay their employees a minimum amount of money which is based on the current version of the law, which is raised every year to adjust the living costs. There are some advantages and

Minimum wage is something that maintains the stability of a states economy. Minimum wage is regulated by the provincial government where the most minor of changes creates an exponential ripple effect through both local and international economies. A minimum wage is the wage that is able to provide not only for bare physical needs but also for preservation of efficiency of workers plus some measure of education, health and other things. Like it’s stated above, minimum wage has ties to many other things other than income, such as: education, healthcare, economic statuses and stability, worker efficiency and overall family life. Cost of living is

The problem of minimum wage has led to many Australians working 2 jobs and having something like Centrelink just to live somewhat comfortably. The minimum wage system was introduced to prevent people from having to work multiple jobs but it hasn’t scaled with inflation, so the minimum wage no longer is the minimum amount of money that a person needs to live comfortably anymore without fear of not being

The current U.S. Federal Minimum Wage is $7.25 per hour. In just two years from 2013, the demanded from advocates for raising minimum wage rose from $9 to $15. However, raising the minimum wage is more complex than simply raising the number of federal standard of pay for employees. Relative control groups and other market activities play a part in the outcome of the minimum wage. For example, one instance of market activity was observers said that raising the minimum wage did not hurt individuals; however, wages were raised during an economic downturn so the impact of minimum wage was masked by other activities. Federal Minimum Wage is pressing topic and it is important to consider the pros and cons to raising it, to ask what people and how people are affected, and to look further into the microeconomic theoretical framework of wages surrounding the topic.

People all across America believe that minimum wage is a good thing and helps people without an education have a normal life, however others believe it is causing poverty and homelessness among the citizens. Minimum wage was made to provide enough money to live just above the national poverty line.But over the years the cost of living has increased while the minimum wage hasn’t. Today, the national minimum wage is $7.25, which is less powerful than the minimum wage was in 1968. This is because the minimum wage was $1.60 per hour, which seems low but back then $1.60 was enough to support a three person family, whereas today the minimum wage can barely support one person. All throughout  the U.S., workers have been fighting for a higher minimum

Minimum wage is the minimum hourly wage an employee can earn from work. President Franklin D. Roosevelt signed the minimum wage law on June 25, 1938. However, the United States has not always had a minimum wage. The United States minimum wage has been in effect since the Great Depression. Before then there was no minimum wage and there certainly were not any legislation to look after workers from development. Many of workers had to work in awful environments such as factories and sweatshops and they were only paid a few pennies a week. The minimum wage started at 0.25 cents per hour and the maximum workweek at 44 hours in 1938. As of today, the federal minimum wage is at $7.25 an hour, part of the Fair Labor Standards Act.

In today’s society minimum wage is a big issue that has affected many people in the United States and is still in effect in today’s society. Minimum sets a platform for the workers to receive their pay according to that set platform. If their was not a floor wage amount set, then employers could pay insufficient amounts of pay to their workers. Each state has their own amount of minimum wage set which workers earn each hour. But, their also is the federal minimum wage law which is set in order to give that insight to employers that they must pay fair wages to their workers, for the means of their business.

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).

Critically speaking minimum wage increases poverty and unemployment and thus damages to business at times. However, despite its drawbacks, minimum wages has some benefits too. In this essay the comparison of minimum wage of between the two countries; United States of America and Australia and the benefits of the minimum wage will be under discussion.

Now the question is what is minimum wage. “An amount of money that is the least amount of money per hour that workers must be paid according to the law” (Merriam Webster’s learner’s dictionary). According to United States department of Labor “The federal minimum wage for covered nonexempt employees is $ 7.25 per hour effectively July 24, 2009” (Department of labor/ Minimum wage).

Franklin Roosevelt introduced minimum wage as a part of Fair Labor Standards Act of 1938. The purpose of minimum wage were to prevent poverty and to stimulate the economy by increasing consumer’s purchasing power. However, in 2015, 78.2 million workers were paid hourly, representing 58.5% of all workers in the United States. Among those people, 870,000 workers earned the minimum wage, $7.25 per hour and 1.7 million workers earned below the minimum. In total, 3.3% of workers earned exactly or below the minimum wage. For years, there have been heated debates about whether the government should raise the minimum wage. In 2016, California, New York, and Washington D.C. agreed to increase the minimum wage to $15 per hour. Some people think raising the minimum wage will decrease poverty and improve the workers living. Instead, raising the minimum wage will make the job market more competitive and it will increase the poverty level. When minimum wage was raised to $10 per hour, it benefited 16 to 24 million people while half a million workers lost their job. Rather than improving, Faces of $15 will damage the U.S economy and deeply hurt living condition of Americans.

In United States, we hear the government, businesses argued about minimum wage. Whether it should be raised or leave it the way it is. But, what exactly is minimum wages? Minimum wage is the least amount of money per hour that must be paid to a worker after surrounding a service according to the law. Many working class families’ lives depend on this minimum wages. There are few families who make less than $15000 a year who feed their families on this salary and still pay bills from it. Over the past year, the federal government has been working toward raising the minimum wage but not all the congress women and men agree on this takes, also not all employers are ready to raise the amount per hour for their employees. Over the last few years, the government has argued on whether it’s right to raise the minimum wage, to distinct who it will benefit more. There have been several laws that have been passed to raise the minimum wage but, the federal government decided to gives each states the right to choose whether they would want to raise their minimum wages.

“The minimum wage is the minimum hourly wage an employer can pay an employee for work. Currently, the federal minimum wage is $7.25 an hour (part of the Fair Labor Standards Act) and some states and cities have raised their minimum wage even higher than that.” minimum wage was first introduced during the great depression in 1930s. Before it was introduced thousands of people were forced to work in horrible conditions for pennies a week. Early attempts on minimum wage was ruled unconstitutional by the U.S supreme court, because it restricted people from deciding what they wanted to pay their workers. So employers still made there workers, work in horrible condition through the great depression. Now that poverty is a huge national issue. President Franklin D. Roosevelt made sure he would protect workers it was part of his mission as the president of the united states of america. After being reelected in 1936 he signed the FLSA in 1938. Which put into place a national minimum wage of 25 cents an hour. After the law was passed the minimum wage was changed almost every couple of years because the cost of living is very high. In 1997 bill clinton allowed states to make there own minimum wage. Today the minimum wage is 7.25/hour there is continuing debate over whether that 's a fair amount of money to support someone there days. Labor activists want the government to raise it while other point out the negative effects it would have on the

In the United States, minimum wage has remained at a low number for several years. Minimum wage is defined as the lowest possible income that an employer can legally pay an employee. This ensures that all people are fairly paid and not defrauded by companies or businesses. Minimum wage is considered a price floor and the minimum wage laws determine the lowest price possible that any employer must pay for labor. In an economic model, the quantity of supplied is greater than the quantity demanded and the minimum wage is above equilibrium price and quantity. Minimum wage prevents labor supplied and labor demanded from moving

1. The underpayment of youth is primarily associated with labour law, an area of law that examines the regulation of work relationships. In Australia, underpayment can be specifically related to the Fair Work Act (2009), where the national minimum wage is defined at $18.29 per hour or $694.90 per 38-hour week. The national minimum wage is the standard to which the government believes the appropriate payment to maintain a healthy workplace environment is. This, along with the National Employment Standards that guarantees maximum working hours and leave amongst other entitlements, ensures that workers are not exploited by their employers.