Papers on "Impact of Federal Minimum Wage Increase" and similar term paper topics
Paper #105608 ::
Impact of Federal Minimum Wage Increase
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This paper is a literature review on the effects of the recent federal minimum wage increase.
Written in 2008; 2,416 words; 20 sources; APA;
$ 73.95
Paper Summary:
This paper discusses the hotly debated validity of raising the minimum wage. Specifically, the paper looks at how experts on both sides cannot agree on the real effects that raises in the minimum wage have had or will have in the future, on managerial decision making. For the most part the consensus among economists is that it will either create a wash for the employee or hurt the employee, and that it will have at least some effect on managerial decisions, including such things as reducing non-cash benefits, increasing work loads to match new labor costs or reducing the number of new hires that occur. Furthermore, the paper states that the question of Kansas is even more marginal, as the adoption of such a wage increase will likely severely change the face of small business decisions in the state.
From the Paper:
"Employment of entry level workers is an essential aspect of economic growth, especially in small businesses as they comprise a majority of businesses and hire a significant portion of entry level workers. Any real reduction in entry level employment, especially among people who are likely to need experience, but are frequently still in a position of being sheltered by family, such as the lowest age group noted here, will severely hinder their ability to move forward as members of a growing economy and may delay independence and even college attendance. More vulnerable individuals in this demographic, those not being sheltered by family still, are likely to then become lost in a system that does not offer comprehensive unemployment insurance to wage earners that have not paid enough into the system yet. Another researcher would like to point out the particular vulnerability of the disabled worker, as if cost-benefit ratios are the exclusive tool for deciding who to hire for an entry level job those with the perceived lowest level of production abilities, i.e. the disabled will be less likely to obtain work. (Lehmann, 2006, p. 50) These people, including young adults, teenagers the disabled and minorities are then relegated to become not only the working poor as they were before but are now in a position to have to ask for even more help elsewhere, such as welfare, a system that has also been severly reduced in the last few years with reforms. (Lehmann, 2006, p. 50) (Burkhauser, Couch & Wittenburg, 2000, p. 16)"
Tags:
effects kansas debate benefits change business
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