Minimum Wage Increase

Satisfactory Essays

Increasing the minimum wage would cause rising prices, raise the unemployment, and hurt small business owners.

Minimum wage is an issue that affects low-income people, but yet still has a major impact on the economy for all income levels.. For example, “raising the minimum wage hurts small businesses as they have to operate on slim profit margins to stay competitive” (Danner 30). If they cannot increase the prices of their goods and services, then an increase in the minimum wage would force employers to react, by reducing workers hours, laying people off, and leaving open positions vacant instead of hiring new people. This shows, the effects job finders will face, especially teens and young adults, who are just entering the work world,

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