Will the increase in the minimum wage have the possible effect on employment? The author of the article believes that a higher minimum wage will shrink wage gaps, raise the productivity and increase earnings for single women with children And I absolutely agree with the author at this point.
Although there is an opinion that a higher minimum wage may lead to a greater unemployment, it is obvious that an increase in a salary has more pros than cons. Firstly, it will stimulate workers to work harder and to care for their job and present position. Nowadays, employers try to address many variable stimulating incentives to their employees. People are provided with comfortable workplaces, health insurances and other bonuses. But, on practice, money bonuses and rewards stimulates people mostly. Secondly the increase in the minimum wage will not only affect each individual, but will improve the living standards on the whole. It will narrow the gap between poor and rich people and decrease intolerance between social groups. It is not a secret that in the countries with huge wage gaps the level of crime poverty and hunger is higher. Increase in minimum wages will also help people like students, who cant focus on their job fully and have to work part-time and pay for their education. I think that a higher minimum wage will stimulate an economic upturn and development of new economy sectors and segments as people will spend more money while earning more. In conclusion I may say that the increase in wage is only possible with the help of government. The state should develop new economy programs and strategies and pursue a policy oriented at different social groups and classes
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