Wednesday, March 31, 2010

issuses with minimum wage

Minimum wage hurts everyone, but it hurts young adults and teens the most. More often then not young adults and teens have jobs that pay minimum wage because they typically have little work experience and take jobs that require fewer skills. This causes them to work more hours and have less time for other things. The smaller your paycheck is the harder it is to keep up with bills and every day life. But by raising minimum wage it will cut lots of jobs. Workers will lose jobs due to the increase and Companies letting go of people who's jobs aren't as significant. Most working people are not directly affected by the minimum wage because their productivity and, hence, their pay, is already well above it. Studies found that a 10 percent increase in the minimum wage reduces employment of young workers by 1 percent to 2 percent.