Raising Minimum Wage Essay

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Pages: 2

Minimum wage is a law in many states that says the lowest a person can be paid for their work. The minimum wage in Texas is $7.25 per hour. For a long time government officials have argued about what ought to be the lowest pay allowed by law that would also profit the economy and society. Many say that the current minimum wage of $7.25 per hour is too low for anybody to live on; that a higher pay will help with the unemployment rate and help develop the economy. Minimum wage should be raised because it would increase sales, increase job opportunities, and give people enough money to live on. The minimum wage needs to be raised to the point where the lowest paid laborer can bear the cost of their essential needs. Since the typical cost for …show more content…
If the minimum wage were to be raised, the prices of goods would be increased. More cash in the pockets of low-wage workers implies more sales, particularly in the areas they live in — which makes quicker development for the economy. A study by the Chicago Federal Reserve found that raising the minimum wage to $9 an hour would raise household spending by about $48 billion. Having a higher minimum wage would increase the number of jobs opportunities. If minimum wage workers are spending more money, organizations are gaining sales and need to employ more workers to keep up with the growth of the company. USATODAY.com states, “The 13 states that raised their minimum wages at the beginning of this year are adding jobs at a faster pace than those that did not.” The state by state employment information released by the Labor Department shows that the number of jobs grew an average of 0.85 percent in 6 months. Many Americans go to work each day yet still live underneath the poverty line. That is to some extent in light of the fact that minimum wage is too low. Raising the minimum wage is a key technique for doing both government and workers good. By boosting pay in minimum wage jobs on which families are depending on, a higher minimum wage will re-establish the customer spending that runs our economy and that organizations require to continue