minimum wage

Topics: Minimum wage, Franklin D. Roosevelt, Wage Pages: 4 (855 words) Published: March 20, 2014
The Economics of Minimum Wage
 
One might ask, what is minimum wage? Minimum wage is the lowest hourly amount an employer can pay an employee. There may be some exceptions based on the type of worker. There are two kinds of minimum wage rates, state and federal. Right now, the current minimum wage is $7.25 per hour. In some states, minimum wages are higher than the federal rate. Workers are paid the higher amount in those locations. Minimum wage has been a hot subject among the policy makers and economists. It has also been a hard and tight issue for the economists. This goes back as far as the 1938 Fair Labor Standards Act. Minimum wage was a politically debatable issue. In 1933, President Franklin Roosevelt attempted to legislate a federal minimum wage, but it was taken down. Eventually, President Roosevelt won and Congress passed the FLSA. At that time minimum wage was set at 25 cents per hour. Since the passing of the Fair Labor Standards Act, the United States has required that all firms that do at least $500,000 worth of business per year pay their co-workers a minimum wage. Minimum wage plays a big part in the cost of labor and hGet Access to AntiEssays.com - Complete Your Registration Now.

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The Economics of Minimum Wage Essay
Below is a free essay on "The Economics of Minimum Wage" from Anti Essays, your source for free research papers, essays, and term paper examples. The Economics of Minimum Wage
 
One might ask, what is minimum wage? Minimum wage is the lowest hourly amount an employer can pay an employee. There may be some exceptions based on the type of worker. There are two kinds of minimum wage rates, state and federal. Right now, the current minimum wage is $7.25 per hour. In some states, minimum wages are higher than the federal rate. Workers are paid the higher amount in those locations. Minimum wage has been a hot subject among the policy makers and...
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