The Issue Of Pay And Cost Of Living

The working conditions, wage rates, working hours and gender issues should be taken into account.

The world is filled with luxuries such as personal islands, gold-plated cars, or crystal pianos. What about everyday items like food, clothing, and shelter? Families in the United States can barely afford such items because of an American tragedy: the minimum wage. Though the sights and sounds of fluttering money is alluring, it is also elusive. The minimum wage is a tragic loss for the United States because it cannot even provide the bare minimum for employees working tirelessly for it. Opposition of raising it can be negated by statistics that show how the country can move into a brighter future. Data from economic research shows

The idea to raise the US FMW has been gaining traction in recent years. While some states and cities taken it upon themselves to enact legislation to raise minimum wage in their jurisdictions, to raise it across the entire country is a different debate. In this paper I will provide history pertaining to when and why minimum wage came to be in the US. ...

Presently, the citizens of the United States of America are involved in an impassioned debate over the federal minimum wage. As of October 5, 2016, the federal minimum wage is set at seven dollars and twenty-five cents an hour. There are numerous amounts of stakeholders when it comes to minimum wage. The three stakeholders mentioned in this essay will be Companies, Employees, and the Economy. In addition to the stakeholders, this essay will also dig into the history of the United States Federal Minimum Wage and see how it has progressed over the years and if it kept up with inflation over the years. With this information, society will see what an increase to the federal minimum wage will have on the United States economy and labor force.

Before discussing the potential implications of raising the federal minimum wage, it is important to understand why such action is necessary. By historical standards, the current federal minimum wage of $7.25 is fairly low (Weissmann 1). Adjusted for inflation, the minimum wage today is over three dollars less than when its real value peaked in 1968 (ibid). Although many state and local governments have passed laws setting the minimum wage above that of the federal level, the majority of states have not, despite rising levels of GDP, productivity and cost of living. Since 1968, the average American, at all levels of income and in almost all occupations, has worked 163 more hours per year, the equivalent of a month (Schor 26). Additionally, worker productivity has doubled since that time, as indicated by Real GDP per hour worked in the United States (“Real GDP”). So although the average worker is twice as productive now as he was in 1968, his real wage earned is

This research paper will be addressing minimum wage and the comparison and correlation of it from when it was first instituted through the Fair Labor Act of 1938 to now in 2015. This paper will also go into the inequality of pay concerning women as well. Some factors that I’m focusing on are instances that have affected minimum wage, firstly the affect that unions had in guaranteeing the continuing rise of minimum wage along with inflation until it began to stagnate in the 1970s, which seemed to happen in correlation with the decline of companies encouraging unions; and, secondly what has happened to the work force as a result of women transitioning from free home and domestic work to paid jobs in the market place in such great numbers.

In 2014, President Obama, called the meeting of fellow congressman to raise the issue of minimum wage, as soon as the President assigned the order for raise in the minimum wage. All those who were in agreement with the President appreciated because an increase in minimum wage is well justified by the American people. However, in fear of the causes that raising the minimum wage will only affect the economy and the Republicans continue to renounce the Presidents proposal. The American people supported the raise in the minimum wage because evidences had proved that raising the minimum wage will not lead to job loss but instead for many Americans it means their life and

The problem addressed in this dissertation is the federal minimum wage in the United States (US). The federal minimum wage in the US has been at a standstill for many years. While policy makers are undecided whether to increase the federal minimum wage, the workforce is held in a quandary. The lag time between increases in the minimum wage imposes grief among the workforce and they’re families. (Addison et al, 2013) Workers earning only the minimum wage face daily struggles with a list of impossible situations, including adjusting to economic changes, healthcare issues, unpaid bills and employment injustice. (Milkman et al, 2012; Smith, 2015) Changes within the consumer price index (CPI) generate situations where many individuals and families

By increasing the starting wage of employees, and the amount of money they receive from their employers, the low wage working class citizen should be able to better pay off their bills and live out of poverty. “Alan B. Krueger, the minimum-wage expert who formerly headed Mr. Obama 's Council of Economic Advisers, has written: "A minimum wage set as high as $12 an hour will do more good than harm for low-wage workers, but a $15-an-hour national minimum wage would put us in uncharted waters, and risk undesirable and unintended consequences”’ (“$15 Is the Wrong” A.14). This article shows us that increasing the starting pay does have its benefits, but also can have harmful effects on surrounding people. What are some of the problems that come with raising the pay of employees?

In 1930 the United States passed a federal law controlling minimum wage. This has led to random increases in minimum wages. For more than a century minimum wage has been a key factor in public policy. Minimum wages were first used to prove against the idea of American factories being “sweatshops” (Josh Barro 01). Over time the minimum wage level has risen and fallen do to the progress of the economy. The amount of money earned from a minimum wage salary today is thought to not be enough to live a regular life (. "Four States Vote to Raise Minimum Wage." 01).

As of 2009, the federal minimum wage established by U.S. Labor Law is of $7.25 per hour- income that is not enough to cover the expenses of an individual or family and therefore creates numerous economic and politic controversies. The inability to keep up with paying the bills and housing, spending money on healthcare and childcare- created a society of marginalized groups of people who face troubling barriers to opportunity and development. Consequently, a satisfactory standard of living can be achieved by implementing a living wage, which theoretically allows the employees to afford decent shelter, food, and other everyday essentials.

In this article, the author discusses the significance of living wages for workers in the US. The author explains that over the past decades, families have been unable to keep in stride with the cost of living, due to low income. While jobs are being created, they do not provide sufficient wages for many families. Additionally, due to the requirements of some federal assistance programs, individuals must accept these employments, regardless of pay. As the economy has grown, the wages remains the same and many minimum wage earners fall below the poverty line.

“Paying your employees well is not only the right thing to do, but it makes for good business”-Jim Sinegal, CEO of Costco. Many of America’s employees are not being paid well, however, for the annual income of a full-time employee who works year-round is less than $16,000 (about $15, 080) according to the current federal minimum wage (Rebuilding). To put into retrospect how out-dated the federal minimum wage is, consider that the minimum wage of 1956 amounted to exactly $7.93 in 2009 (Henderson). How progressive is it that our nation’s workers being paid less today than workers from the 50’s? The federal minimum wage should be raised in order to assist families out of poverty, to ensure the effort and loyalty of workers, and

Today we live in a society that tells us what and when we can do it, with the complex of living in the United States which is supposed to be the land of the free. The cost of living now these days have put those who only make minimum wage in poverty stricken situations, which now they have no choice but to depend on the government to live. We either have to lower the cost of living so that people can live a somewhat sustainable life, or raise the minimum wage so that we can afford the cost of living that is provided to us.

Some organizations are unwilling to show their reward systems and pay policies (Lawler, 1995). Many Human Resources professionals believe gender pay gaps to be resolvable through the monitoring of pay levels and communication (Report on Salary Surveys).Greater pay transparency has been a great benefit to the board, employees and managers as they now know what is happening across the business and they are able to confidently justify their actions (Commission Policy Report).All market-related supplements are recorded and reviewed separately from basic salary to ensure openness and transparency. Regular research market rates within the various labor markets in which they operate is undertaken improving transparency would also help to improve talent development, as employees would be able to see what they could earn if they wanted to move to another division and upgrade their skill set. (Commission Policy Report).