Minimum Wage Is The Lowest Payment Permitted By Law Or Special Agreement

882 WordsFeb 11, 20154 Pages
Minimum Wage Minimum wage is the lowest payment permitted by law or special agreement (labor union). Minimum wage jobs are normally designated for young adults or teens. It does not really permit a suitable living wage for a person with a family. The jobs with minimum wage are learning positions. They enable the worker to gain skills for higher paying jobs. Raising the minimum wage presents a series of advantages and disadvantages to the worker and the economy. Minimum wage was introduced in 1938 during the Great Depression by Franklin Roosevelt. Congress composed minimum wage with the Fair Labor Standards Act (FLSA). The initial wage was set at 25 cents an hour. Minimum wage fluctuates greatly in inflation-adjusted buying power.The current national minimum wage is $7.25. Congress normally only permits the minimum wage to be raised during low unemployment and a stable economy (James Sherk, 2015). Jobs that pay minimum wage are typically jobs for teens in the summer and after school. Although some adults work at jobs with minimum pay; they normally are not the sole income for the family. According to Sherk (2013) only 2.9% of Americans work at a job with minimum wage. Although, over half of that 2.9% are people that range from ages 16-24, and 24% of that 50% are teenagers ages 16-19. Twenty-three of the fifty states contain higher minimum wages over the federal standard (Desilver, 2014). Raising the minimum wage is a continual topic. President Obama recently proposed that
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