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Why the Minimum Wage Should Not Be Raised Employers might hire fewer workers in entry-level jobs, which might make it harder for workers to begin their careers. A higher minimum wage could result in an increase of the high school dropout rate. Prices might be increased to offset higher labor costs.
Why the Minimum Wage Should Not Be Raised Employers might hire fewer workers in entry-level jobs, which might make it harder for workers to begin their careers. A higher minimum wage could result in an increase of the high school dropout rate. Prices might be increased to offset higher labor costs.
Raising the federal minimum wage will also stimulate consumer spending, help businesses' bottom lines, and grow the economy. A modest increase would improve worker productivity, and reduce employee turnover and absenteeism. It would also boost the overall economy by generating increased consumer demand.
Pros of a Higher Minimum Wage Raising the minimum wage on a regular basis helps families keep up with price inflation. Putting more money in the hands of people who will readily spend it helps the economy. When workers earn higher wages, they rely less on governmental safety net programs.
A $15 minimum wage by 2024 would generate $120 billion in higher wages for workers and would also benefit their communities. Because lower-paid workers spend much of their extra earnings, this injection of wages will help stimulate the economy and spur greater business activity and job growth.
Raising the federal minimum wage will also stimulate consumer spending, help businesses' bottom lines, and grow the economy. A modest increase would improve worker productivity, and reduce employee turnover and absenteeism. It would also boost the overall economy by generating increased consumer demand.
Minimum wage increases stimulate the economy by increasing consumer spending without adding to state and federal budget deficits. A raise in the minimum wage puts money into the pockets of low-income consumers, who immediately spend it at local businesses.
A $15 minimum wage by 2024 would generate $120 billion in higher wages for workers and would also benefit their communities. Because lower-paid workers spend much of their extra earnings, this injection of wages will help stimulate the economy and spur greater business activity and job growth.
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