The Minimum Pay For Labour Or Services

The minimum amount required for an employer to pay their employees is called minimum wage. Chris Fitzsimon stated that “Minimum wage is a part of the Fair labor Standards Act which sets a limit on how much a person can make, whether it means only making that specific amount of income but no less than that.” Minimum wage has been a big problem in the political realm as well

Minimum wage was created in the year of 1938 with the pay of twenty-five cent an hour. Minimum wage was created with the intent to support the minimum of living and limit the severity of poverty. The national minimum wage rate is seven twenty-five per hour. There are opposing sides in the debate to raise minimum wage. The debate for raising minimum wage is apparent. “Economists argue about minimum wages” by the Economist and “The argument against raising minimum wage” by Huppke, each have important information and details pertaining to the argument. The raising of minimum wage may in turn

2. For the purpose of this article, "pay" means the ordinary basic or minimum wage or salary and any other consideration, whether in cash or in kind, which the worker receives directly or indirectly, in respect of his employment, from his employer.<</p>

Also referred to as living wage, minimum wage is the lowest hourly rate allowed by federal law to be paid to an employee by an employer that is usually determined by inflations and other economic factors. Usually, it is an economic program stipulating an employee’s benefits of working per hour valued against a hardship policy instigated by the employer. In the United States, the minimum wage first came to light during the Depression era which has propelled from levels of 25cents to $7.25 per hour since 1993 (David, 2013). Irrespective if this steep increase, matters inflation in the

There are several arguments that exist both for and against minimum wage. Minimum wage is the lowest wage that a person can get paid for their work. This is usually seen in labor unions.

In this paper I will introduce the concept of minimum wage and a few of the laws that govern wage rates within the United States. I will also discuss some of the idea of both the support and opposition to minimum wage. I will also introduce some United States companies who have made the decision to raise their own minimum wages, why they made the decision to do so, and the changes and expectations they have as a result. Raising minimum wage for a company is not easy, and what to raise it to is harder, but for many companies, it is a good idea. In this paper, I will explain why.

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).

In this globalization era, as various countries see growth in their economy, there has also been significant differences in the wages set to employees in different countries. The lowest wages set by the law that are fixed to a particular amount which is also defined to be the price floor below which workers shall not sell their labor, has its own effects. The minimum wage law came into force as a matter of social justice amongst the low-wage workers, also to reduce exploitation and see that workers can afford the standard basic living expenses and necessities, not to increase the unemployment rate, indeed to increase the employment rate.

Minimum wage has been a continuing matter since its first establishment, and it is something everyone faces. Though, the recurring problem being brought up again and again is the issue of being underpaid, and is the set minimum wage fair? And will raising minimum wage be more beneficial or harmful in the long run? Through its history can society better understand and find a solution to this problem. Minimum wage was not instituted in the United States until the 1920s, and the idea of wages being determined by the hour was introduced in the 1930s. The Fair Labor Standards Act was born and passed through the Supreme Court in 1938, as well as the Wage and

Initially the minimum wage law was introduced to reduce poverty and inequality. Proponents of the Minimum wage do believe that these laws attain to these objectives. They do guarantee that the workers at the bottom level of the pay scale are being treated right and don’t get underpaid as the result of the belonging to a particular race or sex. They also guarantee that the workers are receiving a reasonable compensation from the employer (Cho, n.d.). The proponents of minimum wage also believe that it may have a positive reflection on the work ethics of the low-pay workers, thus it may benefit employers. It is also might encourage more people to join the workforce instead of trying to gain earnings by the means of unlawful methods, such as prostitution, selling narcotics

Minimum wage is defined as the lowest wage payable to an employee in general or to designated employees as fixed by law or by inion agreement. This wage is compensation created as a reward that is reasonable to the employer and the employee alike. Patton suggests that in compensation policy there should be seven criteria for effectiveness. Compensation should be adequate, equitable, balanced, cost-effective, secure, incentive-providing, and acceptable to the employee (Konopaske, 2013), although the government directly affects minimum wage compensation through wage controls and guidelines. Government laws are established to prevent discrimination.

Minimum wage definition: Minimum wage refers to the base rate of pay for employees for the normal hours worked. The minimum wage depends on the industrial sector that applies to their employment; these include a national minimum wage order, enterprise agreement, transitional pay scale, and a modern award. In the United States, the minimum wage is set by the collective efforts of the local, state, and federal statutes. The workers generally have to be paid not less than the set minimum wage; this is usually specified by either the local, state or the federal government. The minimum wage provisions for the Federal government are contained in the Fair Labor Standards Act (FLSA). The current minimum wage by the Federal provisions stands at 7.25

The new wage system which linked with the productivity of workers (this would give workers incentive to

Labour theory addresses many reasons for wage discrimination. For the purposes of this research we will

‘Wage’ entered English in the 14th century, widely denoting “a salary paid to a provider of service” (Etymonline.com), regardless of the work’s length or nature. This contrasts with modern usage, with ‘wage’ mainly reserved for an “amount paid periodically” (Oxford English Dictionary Online).