President Franklin D. Roosevelt signed Fair Labor Standards present in 1938 with a goal to ensure a minimal sample of living necessary for health, efficiency and general well-being. A major concern with b narrateline wage policy is its proscribe effect on employment lay out. Seventy years of comment of borderline wage rates suck up given us enough empirical data to see that there is no such effect. In 1950, when President Truman raised minimum wage by 87% or, in 1967, when Congress raised it by 27% no negative effect on unemployment rate was recorded. Recent studies from 2010 by the head of Council of Economic Advisers, Alan Krueger, showed that raising the minimum wage doesnt destroy minimum wage jobs; it in feature helps fill job vacancies.
Minimum wage helps many U.S. families to have fair to middling standard living income. Full time workers who argon still standing below poverty rate merit attention from government and some hold dearion. Many times employers in the low paid segments of the repel markets be enjoying market power. They are able to push the wages of their staff below the labyrinthine sense point. If businesses have much power to abuse labor market, minimum wage will ensure our workers have standard income to protrude themselves.
If we take into consideration experience of European countries, minimum wage is non always stated by government, but more of a required national standard set labor unions. Minimum wage has been a long tradition to protect income at the bottom of a labor market. Decent standard income makes huge improvements in the difficult existence of the working poor, by put on the line allowing them to exit the debt treadmill and stand a better chance of eventually rising into a revitalized middle-class. We are not talking about some luxurious emotional state; minimum wage would provide full time working persons with decent living which is not exactly a good life.
Raising low wage worker income raises economy as a whole. The...If you want to get a full essay, order it on our website: Orderessay
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