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Minimum Wage Issue Essay

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When was the last time the federal minimum wage rose within the United States? The U.S. Department of Labor has not risen the federal minimum wage since 2009 when it was set to $7.25, even with the fast paced, current day economy. (Ingraham, "The U.S. Has One of the Stingiest Minimum Wage Policies of Any..." 1) Among the world’s wealthiest nations, the United States contends to be an outlier on this issue: Americans have the lowest national minimum wage, relative to the median wage, of any of the wealthy nations represented in the Organization for Economic Cooperation and Development (OECD). In the United States, by contrast, the federal minimum wage works out to just 35 percent of the national median wage, the lowest in the OECD. (Ingraham, "The U.S. Has One of the Stingiest Minimum Wage Policies of Any..." 2) There has been a long debate on the issue of whether or not to raise the minimum wage of the United States. The federal minimum wage within the United States should gradually …show more content…

As aforementioned, it contends to be critical that the economy of the United States steadily increases in order to maintain balance between the manufacturer and the consumer’s purchasing power, which contends to be directly influenced by the growth rate of the minimum wage. As the standard of living increases within the United States, the prices of goods and services will also increase which will force low wage employees to depend on government assistance in order to keep up. By 2024, in areas all across the United States, a single adult without children will need at least $31,200-what a full-time worker making about $15 an hour earns annually- to achieve a modest, but adequate standard of living. Workers in costlier areas and those with children will need even more, according to projections based on the Economic Policy Institute’s Family Budget Calculator. ("Why America Needs a $15 Minimum Wage”

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