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In the recent past, the attention of the Americans and the economic opinion makers has been on the ever-widening gap between the rich and the poor. Prevalence of income inequality has grown to alarming rates (Mărginean and Chenic, 92-102). The main reason for the development is the soaring incomes at the top. However, the government and other policy makers failed to consider the low-income earners.
The neglect coupled with the increase in salaries for the managers and other officials at the top of the organization has culminated in the status quo. Increasing the minimum wage has been proposed as one of the effective ways of dealing with the issue (Sloman and Sutcliffe, 47). The move aims at reducing the wage differences by increasing the lowest pay for all the workers in the United States. The paper will evaluate the efficacy of the move with the aim of displaying its apparent gains.
Increment of the minimum wages from the previously established $7.25 to $9.80 in an incremental phase was deemed the ideal approach. Indexing the wages as per the inflation level is also important since it leads to the development of the capacity of the worker to conform to the prevailing economic performance. Tipped minimum wages also has to be increased from the minimum of 2.13 per hour, which was the set rate in 1996. The tippled minimum wages has to reach 70% of the existing minimum wage. The introduction of the minimum wages bills peaked in the aftermath of the global recession (Mărginean and Chenic, 92-102).
Raising the minimum wage will help in the alleviation of the recovery of the workers that were still suffering from the recession (Mărginean and Chenic, 92-102). This is the social argument for the raise in the minimum wage. From the economic perspective, raising the minimum wage will result in a demonstratively positive effect on the performance of the entire economy. The increment in the wages will result to increase spending. The more the people spend the better the economic performance due to the increase in gross domestic product.
The slight change in the minimum wages will affect the wages of over 28 million workers. The increment will represent over 40 billion raise over the incremental period. The wages earned will lead to the improvement of the block’s spending power (Mărginean and Chenic, 92-102). Therefore, the workers will be in a position of spending more hence increasing the gross domestic product. The resultant increase in the gross domestic product during the period of the increment will be 25 billion.
The improvement in the gross domestic product will lead to the development of the over 100,000-employment opportunity since the more the people spend the more the firms have to produce. Labor s one of the factors of production (Samuelson and Nordhaus, 51).
The increment in wages also has a demographic aspect. Increasing the minimum wage to benefits workers in different proportion dispelling the common notions of the minimum wage workers. The affected workers in terms of gender, race, age, ethnicity and other demographic characteristics differs from the common paradigm when thinking of the workers in the minimum wage bracket. The first increment of 0.85 will affect 13 million worker in a direct or indirect manner (Holtz-Eakin, 73-96). The second incremental raise will lead to the increment of the number of workers affected to 20 million (Mărginean and Chenic, 92-102). The third incremental raise in income will make the number raise to over 28 million.
The raise in the minimum wage will affect both men and women. However, the effect on women will be disproportionate. Women comprise 54.5 % of the working population. Therefore, the program ought to follow the same pattern (Mărginean and Chenic, 92-102). However, the women are not as well affected. The effect of the program on the women ranges from below fifty percent in some states to above sixty percent. Therefore, there is not equal distribution of the income. However, women will still be beneficiaries of the program.
The immediate effects of the increment in the lowest wages will be the increased income and spending power of the workers in the low economic brackets (Bernstein, 73-96). However, the effects of the move will transcend beyond the mere increment in the wages to the attainment of a steady economic growth. The benefits that the program brings about are in excess of the aforementioned growth in the incomes of the workers (Mărginean and Chenic, 92-102).
Increasing the minimum wages could lead to the creation of jobs across the nation (Holtz-Eakin, 73-96). Just as the tax breaks for the middle-income earners, the increment in taxes will lead to the extra disposable income in the hands of the working families (Mărginean and Chenic, 92-102). Extra income augments the spending power of the working families. This is desirable since the more the people spend the higher the economic growth.
Another advantage of increasing the minimum wage comes from the high propensity of the low-income earners spending whatever extra income they receive (Mărginean and Chenic, 92-102). Therefore, they will form a substantial part of the demand for the products. It will also increase the general demand for the products in the nation hence increasing the production rates. Increased production leads to the demand for more factor of production. Demand for Labor as a factor of production translates into more employment opportunities (Parkin, Powell and Matthews, 81).
In addition to the direct gains of the increased spending power of the lower bracket workers, there is a likelihood that there will be other indirect income generated. For instance, when the people spend more, there will be a requirement that the workers spend more working hours. Putting in overtime will lead to the attainment of more income. The income forms part of the indirect earnings that the increased wages result in.
Projected raise in the consumer spending is important for the economy. One of the main factors holding back the organization s from hiring is the low consumer demand. With the increment in the lowest wages and the propensity of the low-income earners to spend any extra income, the economic performance will increase and the companies will be at a better position to hire new labor in fulltime and part-time basis (Mărginean and Chenic, 92-102). The boost is small compared to other economic stimulus programs. However, the effect is still significant and it ought to create the desired results.
In order to show that the minimum wage raise will be beneficial, it is important to focus on the stimulating effects of the wage raises (Krugman and Wells, 49). The minimum wage results from the employers. Therefore, it is important to come up with a multiplier to show the multiplied effects on the economy (Bernstein, 73-96). Focus on the multiplier effect indicates that the move has far-reaching effects on the performance of the entire economy.
The raise of minimum pay is important more so in the period of economic downturn. In the current period, the entire performance of the economy is hampered by the different factors such as the increased unemployment (Mărginean and Chenic, 92-102). This means that the employers have access to cheap labor given the increased labor supply in the economy. Therefore, there is no incentive to the employers that makes them pay better salaries. This unique issue calls for the inclusion of the employers in the debate. It also calls for an order setting the wage level since the market forces are more likely to place it in the lowest levels possible.
In conclusion, wage increment for the minimum wage workers is called for as a means of ensuring that there is increased economic performance (Mărginean and Chenic, 92-102). Focus on the development of the minimum wages in the lowest income group is important since the group is more likely to spend. The more the workers spend, the higher the demand hence the improvement in the gross domestic product.
Bernstein, Jared. “Would raising the minimum wage help the economy?: Pro.” “Minimum Wage.” By Barbara Mantel. CQ Researcher 24 Jan. 2014: 73-96. Web. 30 July 2014
Holtz-Eakin, Douglas. “Would raising the minimum wage help the economy?: Con.” “Minimum Wage.” By Barbara Mantel. CQ Researcher 24 Jan. 2014: 73-96. Web. 30 July 2014.
Krugman, Paul R, and Robin Wells. Economics. New York: Worth Publishers, 2006. Print.
MÄƒrginean, Silvia, and Alina Åžtefania Chenic. 'Effects Of Raising Minimum Wage: Theory, Evidence And Future Challenges'. Procedia Economics and Finance 6 (2013): 96-102. Web.
Parkin, Michael, Melanie Powell, and K. G. P Matthews. Economics. Harlow: Addison-Wesley, 2000. Print.
Samuelson, Paul A, and William D Nordhaus. Economics. New York: McGraw-Hill, 1985. Print.
Sloman, John, and Mark Sutcliffe. Economics. Harlow, England: Prentice Hall/Financial Times, 2003. Print.
Mandatory overtime definition is hours in excess agreed upon, predetermined and enforced in an established work schedule. It is important to note that nurses are health care organization greatest expense, and, as a result, they are increasingly working overtime. The health care industry is a sensitive industry and being a nurse is a calling. Overtime has become a fact in nursing it has been in the media and has brought about a lot of controversy ( Bae, 2010). Overtime has been an issue for many years, and it will mostly continue to be a challenge for nurses in the future. One understands that in order to save lives, there is a need for a greater element of sacrifice. There are some benefits that accrue with mandatory overtime, this paper is going to describe some of those benefits that come with it.
Factors that contribute to working overtime
Overtime in nursing has had the description of a ‘vicious cycle that has unfolded and includes overworked nurses who often leave the nursing units, which are dangerously short-staffed for the main reason that there has always been a nursing shortage (Bae, 2010).’ There are several staffing practices in nursing that contribute to the problem. These include the denial of leaves, paying out the vacation pay without the actual vacation, and begging nurses to work even when they are sick.
There are those who argue that forced overtime or mandatory overtime is a desperate, and short sighted strategy which forces a few nurses to work harder and harder. In addition to the shortage of nurses, there are other factors that often contribute to overtime. They include weather conditions and other unmanageable events which may prevent typical shifts (Bournes, 2010). One cannot just leave the health unit and leave a patient without care, therefore, in these situations one has to work overtime in a bid to ensure that he or she compensates for the missing nurse. Further, during an ongoing procedure, the professional ethics inculcated into nurses often prevent them from leaving their scheduled hours of work.
Advantages of working mandatory overtime
There is always a need to make that one extra dollar, and in this case, the most obvious benefit is extra cash for the nurses. Nurses that work mandatory overtime often have more cash because the overtime charges are often different from the regular working hours. Therefore, the registered nurses often add extra cash earned to, in addition to the regular wages, that they already possess. Being a nurse is a calling, and, therefore, one has to be ready to work regularly at 40 hours per week further, one must always be available during an emergency. Hospitals are often understaffed and consequently working overtime has with time become mandatory in a bid to maintain quality services to patients. By a nurse working extra shifts per week he or she can be able to earn about twice the wages of a typical work week.
It is important to note that the health care sector is one of the few industries that often pay a lot when it comes over time. The law authorizes that there is a compensation of 1.5 times the workers standard rate of pay for all hours worked over 40 hours (Bournes, 2010). This, therefore, means that a nurse can be able to raise a lot of money during over-time. There are some places where nurses pay for overtime is high, for each hour they work over eight hours per day, further, it is also of importance to note that, in the health care industry, all hours worked more than 12 in one day receive pay at a double standard hourly rate. This has made some nurses richer than doctors in terms of the salaries they earn, a typical nurse who works mandatory overtime often makes about two hundred and fifty thousand dollars per year. This is more than a doctor who often makes around two hundred and thirty thousand dollars per year (Bournes, 2010). Consequently, it can be seen that indeed working overtime is of crucial importance to the wages of the nurses as they are able to rake in more money as a result of working mandatory overtime.
Before one goes into the nursing profession, one often knows and understands that his or her life might never be the same again. This is because a person usually immerses him or herself into the tight schedule that comes with being a nurse. A nurse, when needed during the day or night, should always be on standby, this is because nurses often deal with human lives and it is general knowledge that the human life is fragile and needs adequate and quality health care in order to ensure that one resumes body normalcy and good health (Bournes, 2010). Therefore, despite working mandatory overtime hours the nurses often feel that they have played their cards right and that they have serviced humanity. They feel that they have done their job, and this leads to satisfaction.
The health care sector is very sensitive this is because it deals with human lives. Consequently, there is always a need for increased and optimum productivity (National League for Nursing, 2012). For this reason, when there is a requirement for the nurses to work overtime, there is the benefit that accrues of increased levels of productivity. This is important as a lot of work in long hours is achieved, this means that the services to patients is at a rate that is fast and consequently their road to recovery increases dramatically. Further, it is important to note that there are nurses who are still in the working mindset when 8 hours have passed; therefore, these nurses are able to work over 10 hours without fatigue.
Disadvantages of working overtime
However, there are dissenting opinions that come with working mandatory overtime. There has been concern for the long term effects that come with working overtime the leading issue has been fatiguing of the nurses. Working over 40 hours per week is tedious, and one is often fatigued, therefore, in the long run one finds that the body is not working properly and optimally. This fatigue often leads to a diminished quality of care, near misses and errors. These careless mistakes that come with fatigue can be afforded in any other industry but never the health care industry.
This is because one error can be the line that exists between life and death. Consequently, in the health care sector there is a need to ensure that the perfect quality is given to patients (Bournes, 2010). Research indicates the risk that comes with making an error for a nurse increases significantly when the work shift in a day is longer than twelve hours. The health care sector has been avoidant when it comes to this issue, other industries have already realized the relationship that exists when it comes to making an error and fatigue (National League for Nursing, 2012). For instance, when it comes to the airline and trucking industries, there is often a limit the number of hours a pilot or a truck driver can work in a week. There is also the time left for them to replenish and be rejuvenated in between the runs and flights.
By the fact that the nurses have licenses, it means that they are often responsible and accountable for the decisions, inactions and actions (Campbell, 2012). Therefore, when fatigued they jeopardize their work in a bid to get more pay. Further, it can be seen that sometimes it's not their fault because it is mandatory to work overtime and sometimes the fatigue completely removes their ability to perform in patient safety. The American Nurses Association has taken a position which states that regardless of the number of hours that one has worked, each registered nurse has an ethical responsibility to evaluate his or her fatigue level. This is especially important when making a decision on whether or not to accept any assignment which is an extension beyond one’s regularly scheduled work day or week. This also includes the mandatory as well as the voluntary overtime assignment.
Working overtime is also bad for one’s health. The optimal working capacity of the body is eight hours per day, therefore, when nurses exceed this limit they often put their health at risk. According to a study done by the John Hopkins University, working overtime increases the probability of heart attacks and heart disease. The research showed that those who worked more than 10 hours had a 60% increase when it came to getting heart related illnesses such as, non-fatal heart attack and angina. Further, the more frequent that not, nurses often feel what is referred to as burnout. Burnout is a condition where one feels that he or she is extremely and completely exhausted and overwhelmed.
The cause of this overworking leaves one feeling drained and sickly. According to a study by the Aragon Institute of health sciences, persons who often work more than 40 hours per week often increase their risk of burnout by six fold, this is in comparison to the people who work less than 35 hours when it comes to a week (National League for Nursing, 2012). It is also significant to note that working for long hours has had an association with several adverse effects. They include ulcers, depression, and stomach problems, these diseases although treatable are often very bad for worker, this is because one cannot be the normal self and consequently one feels as if they are losing touch with the society (Campbell, 2012).
There is also the problem of budget dependency, when one works overtime regularly, he or she most likely begins to rely on the additional income and, therefore, lets the expenses creep up in order to match the increased income. In most cases, this often becomes a problem this is because over time depends on the patient census if there is a decrease in the census of the patients, then the situation might change will little notice. This means that the finances will also change, and in the end one may feel stressed by working overtime as well as increased stress about what one will do when one is no longer offered the mandatory overtime. Therefore, one should avoid counting on the income that comes with mandatory overtime to pay day to day expenses.
A nurse can be only be in one place at a time, and, therefore, if he or she is working late then this means that one is missing something else. This might be a child’s birthday party or any other significant and important event. While making more money during the mandatory overtime might be beneficial to a family financially, the family is much more likely to suffer in other ways. For example, the family, in addition to the losing of, time with family and friends, one might be more irritable towards them when one is on his or her time off (Campbell, 2012). Further, it has also been reported that nurses who work mandatory time have no time to teach their children some important life skills, they often leave this work to the caregivers such as nannies. Therefore, a child of a nurse might not grow into the ideals of the father or mother because they never spent time together primarily because of the mandatory overtime. Consequently, the balancing of work and life is hard enough even without the added constraints that come with working mandatory overtime.
In conclusion, there are both disadvantages and advantages that come with working overtime, however, the advantages clearly outdo the disadvantages. This is because the most important thing when one is a nurse is to ensure that he or she saves the patients that one is taking care of. If there is a need for mandatory overtime working hours in order to restore the health of a person, then nurses should always be to the task. The most obvious benefit that comes with mandatory overtime is the money that comes from it, a nurse can live comfortably due to the rise in his or her salary (Campbell, 2012).
People in the health care industry, especially the nurses, are often the highest paid when it comes to overtime, this is because all their concentration is in need when it comes to taking care of patients. Another advantage is the fact that there is satisfaction, when one has sacrificed his or her personal time in a bid to make sure that a patient is safe and gets back to good health, one feels important and contented with life. It is then that a nurse often forgets the number of hours that he has spent awake while taking care of the patient.
On the other hand, what has an advantage always has a disadvantage. This, therefore, means that there are also disadvantages that come with mandatory overtime. The first major issue is the health of the nurse, working overtime often creates health problems for the nurse due to fatigue and burnout. The nurse is often not able to work optimally, and this might jeopardize the quality of services that he or she gives to the patient. It is important to note that nurses deal with fragile people and, therefore; there is never a window for an error or mistake.
National League for Nursing., & American Academy of Nursing. (2012). Nursing outlook. New York: American Journal of Nursing Co.
National Council of State Boards of Nursing (U.S.). (2010). Journal of nursing regulation. Chicago, IL: National Council of State Boards of Nursing.
Bae, S. H., & Brewer, C. (January 01, 2010). Mandatory overtime regulations and nurse overtime. Policy, Politics & Nursing Practice, 11, 2, 99-107.
Bournes, D. A., Plummer, C., Miller, R., & Ferguson-Paré, M. (January 01, 2010). NursesforTomorrow: a proactive approach to nursing resource analysis. Nursing Leadership (toronto, Ont.), 23, 1, 40-53.
Campbell, G. M. (October 01, 2012). On-Call Overtime for Service Workforce Scheduling when Demand Is Uncertain. Decision Sciences, 43, 5, 817-850.
Workers as commodities
Capitalists aim to exploit the factors of production, including labor to make profits and create wealth. Thus, capitalists’ employers are interested in making money out of their business by selling products and increasing taxation on people (Bowles, 2007). This leads to the creation and accumulation of wealth just at the top of a capitalist organization, that is, the top officials accumulate health for themselves. Workers, therefore, remain poor while their employers get richer. Instead of developing the workers' skills and improving their living conditions or standards, the employers are only interested in the making of profits by exploiting the potential of the workers for profit maximization (Bowles, 2007). Workers are, therefore, seen as commodities, not human, that should be developed and trained to improve their competencies. Workers are also treated as commodities that cannot talk and take part in strategic makings. There is no democracy in a capitalist organization. They have little impact or say in the actions of their employers. Only the top officials take part in making decisions for their businesses.
Moreover, workers are treated as commodities because they are offered pay and bonuses as compared to that which the employers allocate for themselves (Merino, 2010). The little payments and allowances cannot make their living standards to improve. Workers are the ones who produce the goods to be sold by their bosses. Their employers, on the other hand, own them and give themselves unbelievable pay and bonuses. Also, the workers have no control of what is being done in the production process. Finally, the workers are treated as commodities because, in the selection of the workers, they are at liberty of shopping around and market their skills and service to the highest bidder, the employers, and can get unemployed when the bids placed by the employers do not fit them (Bowles, 2007). In other words, they are treated as commodities because they act as instruments of making profits.
The marketplace is “cruelly capricious” in the sense that, the capitalist economy is based on the market of producers and consumers. This kind of an economy is characterized by unemployment and recession. The economy or market unvaryingly grow and decline, thereby considered cruelly capricious (Merino, 2010). Also, the workers can lose jobs any time. Examples of a cruelly capricious are where the employers can lay off the workers anytime, or where the recession and unemployment can occur anytime due to inequality in the distribution of wealth (Merino, 2010).
The employees at Marriot are not treated as commodities. The workers are not viewed as machines to make products and generate profits. Instead, their opinions and views are incorporated in the business decisions. Also, wealth is created by or for all the participants i.e. the employees also get to win.in some situations as their skills are improved and what they are earnings are fair and reasonable. Employees are also recognized as valuable in the business and service important functions for the existence of the organization. They are, therefore, protected and taken care of for the betterment of the employer, the workers themselves, the organization, and the customers (Ravikumar, 2013). These kinds of actions to the workers are considered human and workers no viewed as commodities.
The labor policy of Marriot is caring. The workers are preserved and improved by ensuring that they learn new organizational and management issues and their skills enhanced. Their views are valued and considered in the final business decisions. They are also given the chance to generate wealth and benefit from what they do. Caring of the employees has become the top priority of the organization. This is done to maintain the organization and ensure that it continues operating in the marketplace competitively. Nevertheless, Marriot is not the exception to the rule among big companies. Many big companies have realized the need to value their workers and protect and care for them. They have realized that without the workers, the organizations cannot exist (Ravikumar, 2013). In sum, there are other big companies apart from Marriot that have shunned away from the capitalism philosophy and value their workers by treating them humanely.
Bowles, P. (2007). Capitalism. Harlow, England: Pearson/Longman.
Merino, N. (2010). Capitalism. Detroit, MI: Greenhaven Press.
Ravikumar, A. (2013). Market Capitalism, State Capitalism, and Community Capitalism. SSRN Electronic Journal. http://dx.doi.org/10.2139/ssrn.1674745
The debate on minimum wage in America has been a subject of heated argument throughout the years with proponents and opponents giving critical reasons to support their stands on the matter. In the job market, the two players who are directly involved in the minimum wage debate are the employers and workers (Harvey, 2015).
On the one hand, the employers or business owners are of the opinion that the federal minimum wage should be maintained at the current rate of $7.25 per hour warning of far-reaching implications that could affect the economy if the minimum wage was raised (Harvey, 2015). Those of the opinion that the federal minimum wage should be maintained at the current rate cite recent legislation that allows each state to set its minimum wage as a means to ensure that employees are not exploited by employer (Harvey, 2015)s. Considering that the cost of living slightly varies based on location, this argument can be considered for further debate.
On the other hand, employees and workers are of the opinion that the federal minimum wage should be increased to factor in the rate of inflation that has grown throughout the years (Desilver, 2017). According to the people supporting the increment of the federal minimum wage, three fundamental issues stand out. First, the minimum wage has not been increased in the last decade. This situation continues to thrive despite the increased cost of living for the average citizen working for the minimum wage. Secondly, the current minimum wage has not been adjusted for inflation (Desilver, 2017). As such, the current rate is unfair to the workers or employees as they strain to maintain a decent living amidst the rising cost of living.
Finally, the establishment of the federal minimum wage in 1938 through the Fair Labor Standards Act was aimed at ensuring that Americans can achieve a decent standard of living working one job (Glass, 2017). The current minimum wage negates this intention since Americans currently have to work more than one job to achieve a decent quality of life. Considering all the facts and statistics from both sides of the argument, this essay seeks to establish why the Federal Minimum wage should be raised (Glass, 2017).
Purpose of the Minimum Wage
The debates on the establishment of the minimum wage first surfaced during the great depression. This led to the controversial establishment of a minimum wage of 25 cents as was set under the National Industrial Recovery Act (NIRA) (Glass, 2017). The United States Supreme court however later declared the Act unconstitutional citing the interference with employers’ ability to bargain wage contracts with their workers. However, it is important to note that the reason for setting a minimum wage was to protect the American citizen from exploitation by employers during the tough economic times that were brought about by the Great depression (Grossman, 2018).
To ensure that the federal poverty level guidelines are strictly observed the minimum wage must be set by the government to ensure that employed Americans are capable of meeting their financial obligations and live dignified lives (Grossman, 2018). As such, the federal minimum wage was reintroduced in 1938 this time through the Fair Labor Standards Act. It is important to note that the 25 cent minimum wage set was subsequently adjusted for inflation every year to cover for the rising cost of goods and services (LII, 2018). However, since 2009 the minimum wage has not been revised upwards to match the rate of inflation thereby leading to the all-important question; can a person earning $7.25 an hour live a decent life from that pay?
Earning $7.25 an hour translates to just about $15,080 a year which is above the poverty threshold that stands at $11,945 (Glass, 2017). However, this is for a single person with no dependents looking up to him/her for support. In case the employee earning a minimum wage has two children, for instance, the poverty threshold rises to $23,283 which means that it has to take two working adults both earning a minimum wage in such a household for them to avoid poverty (Glass, 2017).
For a tipping job, the minimum wage is $2.13 assuming that tips will cover for the difference. If the employee fails to get tips to cover the difference then they remain underpaid (Glass, 2017). Considering such facts and statistics, it is important that the minimum wage is raised to protect and ensure that employees can afford a decent life from a full-time job paying minimum wage (Harvey, 2015).
The Minimum Wage Has Not Been Increased or Adjusted For Inflation in 10 Years
Since the year 2009 when the minimum wage was set at the current $7.25 following the annual increment by 70 cents every year during that period, the minimum wage has remained constant to date (Glass, 2017). However, it is important to note that Congress in 2007 gave power to states to set their minimum wage provided it stands above the federal minimum wage. As a result, various states including District of Columbia, Massachusetts, Washington state, as well as New York have set their minimum wages at amounts above $11 with frequent revisions considered with the aim of increasing the minimum wage up to $15 in some states (Glass, 2017).
While this is a plausible move for the individual states, other workers in the larger American society still suffer under the current federal minimum wage amount which is insufficient to sustain a decent standard of living (Harvey, 2015). Finally, it is important to note that the politics of race and ethnicity also comes into this debate because most of the employees working minimum wage jobs are mostly from the minorities including African Americans and Hispanics.
Raising the Minimum Wage Will Benefit the Economy
As opposed to arguments by employers and businesses that increasing the minimum wage will negatively affect the economy, the contrary is true. First, raising the minimum wage increases consumer spending since more people have disposable income. This creates a positive effect on the economic growth of the United States (Scott, 2018). Secondly, raising the minimum wage acts as a motivating factor for employees such that an increased pay will motivate workers to increase their productivity at work. The result is increased profits for the business and the economy at large (Scott, 2018). Third, increasing the minimum wage reduces worker turnover (Scott, 2018). When employees consider their pay as fair, they develop satisfaction which means that their work ethic as well as morale increases. The result is that the employee is not likely to switch jobs regularly in search for better pay and satisfaction (Scott, 2018). For the business, this means that they get to keep employees longer and thus avoid recruitment and training costs incurred when hiring new employees.
In conclusion, having considered the facts and statistics, it is true that an increased minimum wage will be more beneficial to the employee, the employer, as well as the economy. The average employee earning a minimum wage will be able to work one full-time job to earn a decent living and avoid poverty. This is opposed to the current status where minimum pay workers have to secure more than one job to make ends meet. It is also important to note that minimum wage employees are usually not given insurance covers by their employers, this means that they're burdened by all medical and health care costs that they might incur. Therefore increasing the minimum wage is the best way to ensure a win for all. This win-win situation for all ensures that American citizens can achieve the American dream while contributing positively towards building a better country for all.
Desilver, D. (2017, January 4). 5 facts about the minimum wage. Retrieved from Pew Research: http://www.pewresearch.org/fact-tank/2017/01/04/5-facts-about-the-minimu...
Glass, A. (2017, June 24). National minimum wage law enacted, June 24, 1938. Retrieved from Politico: https://www.politico.com/story/2017/06/24/national-minimum-wage-law-enac...
Grossman, J. (2018, October 21). Fair Labor Standards Act of 1938: Maximum Struggle for a Minimum Wage. Retrieved from Department of Labor: https://www.dol.gov/general/aboutdol/history/flsa1938
Harvey, J. T. (2015, July 31). The Real Argument For Raising The Minimum Wage. Retrieved from Forbes: https://www.forbes.com/sites/johntharvey/2015/07/31/real-argument-for-ra...
LII. (2018, October 21). Minimum Wage. Retrieved from Cornell: https://www.law.cornell.edu/wex/minimum_wage
Scott, R. C. (2018, October 21). Raising the Minimum Wage: Good for Workers, Businesses, and the Economy. Retrieved from democrats-edworkforce.house.gov: https://democrats-edworkforce.house.gov/imo/media/doc/FactSheet-RaisingT...
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