Should We Raise the Minimum Wage to the Average Pay Rate? April Alston Melisa Fennern Sharon Grady Nicole Huffman Terika White University of Phoenix BCOM/275 September 30‚ 2013 Michelle Maldonado “Should We Raise Minimum Wage to the Federal Average Pay Rate?” On the United States Department of Labor website it states that in 1938 it was decided that a federal minimum wage should be set. When it was set‚ it was set for the amount of $0.25 an hour. Now as of 2013 it is $7.25
Free Minimum wage Employment
Minimum Wage Fireworks were lit once the announcement surfaced the internet that President Obama stated‚ “Tonight‚ let’s declare that in the wealthiest nation on Earth‚ no one who works full-time should have to live in poverty.” (Obama) He was looking to raise minimum wage during his State of the Union address. The average middle class person would be elated that minimum wage was going to rise. The amount of increase would depend on your location. I was one of those people would were excited
Premium United States dollar Minimum wage United States
Minimum wage in Nepalese Labor Market Minimum wage is the price floor imposed by the government for the welfare of labor. Price floor is the legal minimum on the price at which a good can be sold. It is an attempt by the government to maintain prices at other than equilibrium levels. When a government imposes a price floor‚ there will be two cases. One the price floor is not binding if the price floor is maintained below equilibrium price level. In this case‚ the market forces naturally move the
Premium Employment Wage Minimum wage
The concept of a minimum wage has been around for over a century; New Zealand was the first country to have a minimum wage‚ enacted in 1894. The United States introduced minimum wage during the Great Depression in 1938. (Anderson) A minimum wage is a price floor; this sets a base line wage that companies have to pay their employees. Currently in the United States nearly 75 million people work minimum wage jobs. (Goldstein) In 2004 the federal minimum wage was $5.15 an hour and only 12 states had
Free Minimum wage Employment Wage
and evaluate the extent to which it achieves its purpose The minimum wage is the lowest rate at which a worker can be played. There she minimum wage laws pegged to hourly‚ daily and even monthly rates‚ although U.S. law is pegged to an hourly wage. Also‚ a minimum wage law usually makes it illegal for a person to sell his labor for less than the minimum wage rate The general purpose of the minimum wage is to guarantee a living wage to all workers who work a standard period of time‚ whatever that
Free Minimum wage
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
Premium Minimum wage Franklin D. Roosevelt
History of the Minimum Wage · 1938 -- The minimum wage was first enacted into law as part of the Fair Labor Standards Act (FLSA) of 1938. The original minimum wage applied to workers engaged in interstate commerce and the production of goods for interstate commerce. In 1938‚ this applied to roughly 11.0 million workers out of a total of 54.9 million workers. The minimum wage was set at $0.25 per hour. · 1961 -- Amendments to the minimum wage law extend coverage primarily to employees in large
Premium Employment Economics Wage
Minimum Wage - The Dubious Policy Minimum Wage The Questionable Policy As early as 4:00 am in the dark and cold morning of winter‚ a few people walking on an wet sidewalk. Under chilling wind‚ those people walk to a large‚ old building. Inside the building‚ the people work for repetitive‚ backbreaking low waged jobs. In the same day‚ late at night‚ you can see similar scene: some people walking out of the building under heavy humidity. I’m not one of those people‚ I don’t know the feeling
Premium Minimum wage Wage Employment
ESLW310 02/11/2014 Minimum Wage The minimum wage is a big problem in the U.S. “Assembly Votes to Increase California’s Hourly Minimum wage to $9.25” report how our state’s minimum wage would raise over the next few years: “Under AB 10‚ the hourly minimum wage would increase to $8.25 in 2014‚ $8.75 in 2015 and $9.25 in 2016” (Gutierrez A4). The president of Obama also supports this vote. He said: “It is time to raise the American people’s wage.” But there many people disagree this suggest. People
Premium Employment Wage Minimum wage
Minimum Wage In the United States Minimum Wage is approaching record lows. Even with recent increases inflation is one of the main reasons that workers are being paid less for labor than they were back in the Seventies. There are about 3 million workers in the United States that worked full time year round last year and still fell below the National poverty level. If everyone earns exactly the same amount of money‚ then the income distribution would be perfectly equal. If no one earns any money
Premium Minimum wage