Pro Minimum Wage Research Paper

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Minimum wage is now one of the lowest amounts of money that any employer is legally required to pay an employee for their work. Any specific amount of the minimum wage can vary by county, city, or even state, based on the factors such as the cost of living, local economy and inflation. It is an extremely controversial topic with the proponents arguing that it helps improve living standards, and reduce poverty, while opponents argue that it can also lead to job losses and higher prices. Minimum wage varies by country and region, with some countries having a national minimum wage while others have minimum wages set at the state or provincial level. A fun fact about the world. Is that: In the U.S., the federal minimum wage is $7.25 per hour, but many states have a higher wage. According to the website Statista. States and …show more content…
Improved living standards is another pro of minimum wage. By increasing the minimum wage, workers may and can experience an improved quality of life, as they can early afford to pay for any kind of necessity or essential that they might need to potentially save for their future. This is according to Investopedia, the website. Although there can be a lot of positive effects on minimum wage, there are also a lot of cons to minimum wage. For a few examples, less jobs for citizens, some people argue that a very high minimum wage can lead to loss of jobs, as any employer may be even more unable to afford the increased labor costs and may possibly be forced to lay off workers or even reduce the hours they work. Also inflation, which has become one of the worst problems of the minimum wage. A higher minimum wage leads to increased prices for goods and services, as businesses pass on their higher labor costs to consumers. These statistics are from Buddy

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