Minimum Wage Research Paper

Legalised slave labour

A minimum wage is the lowest remuneration that employers may legally pay to workers. Equivalently, it is the price floor below which workers may not sell their labor. Although minimum wage laws are in effect in many jurisdictions, differences of opinion exist about the benefits and drawbacks of a minimum wage. Supporters of the minimum wage say it increases the standard of living of workers, reduces poverty, reduces inequality, boosts morale and forces businesses to be more efficient. In contrast, opponents of the minimum wage say it increases poverty, increases unemployment and is damaging to businesses.
You are a single parent, working part time due to that being the only job you could get. You need the job to pay …show more content…
The structure aimed to make a fair pay for all employees in the U.K. .When the structure was first introduced the only 600,000 people when classed as working for the minimum wage but 20 years late that number has double to 1.2 million of the British work force, that’s 1 in 20 workers, working for as cheap as their employers can pay them. Since the law has came into place the national minimum wage has steadily increased. The current minimum wage for an under 18 is three pounds eighty seven (£3.87) and even lower for apprentices. This is social unacceptable and inhumane, to pay someone so little for their time. The majority of the blame does not fall, expectedly, the employers but rather on the government who do not know what it is like to work daily without getting every little tab getting picked up by the U.K. tax …show more content…
For a full time worker the difference is £1100 per year, seems a lot you and me but to large multinational companies, such as ASDA or McDonalds the difference is negligible the difference could easily be made up by taking a cut off their CEO’s astronomical bonuses which they get on top of an astronomical wage. The Walmart, an American giant who own ASDA, CEO received an out of this world bonus of $25.6 million, yes nearly 17 million pounds, that’s not a typo. Which falls on top of a salary of just under $1 million, that’s £650,000, £117.5million but it’s acceptable to pay only £3.87 to under 18s, I think not. Yes they’re job maybe completely different but it comes to needs versus wants. Carl Douglas McMillon may want the latest supercar but the employees need a house and food and at that wage it is not feasible. That’s why their needs to be a big change, to stop children in our own country going to bed

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