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Should The Minimum Wage Be Increased?

991 words - 4 pages

The minimum amount of money that must be paid to an employee by an employer in hourly basis, regardless of employee’s post or qualification, which often fixed by government authorities is known as minimum wages of that country. Currently federal minimum wages in United States is $7.25 which was last set at July 2009. Every year there is a huge debate at our country about raising minimum wages. Increasing minimum wage obviously has massive effect on the country’s economy and its people. Some experts say that, raising minimum wages can improve the life style of those employees who are under the poverty line. They believe that by raising the minimum wages net income of the working class will ...view middle of the document...

Since the easy communication and accessible transportation to all over the world, they can easily establish their manufacture plant in other part of the world where low cost labors are available, resulting loss of significant number of jobs at the country.
Every time when the wages increases the company has to raise the price of its service or the product in order to maintain the raised expenses. Now, in the competitive America there is tough competition to sell better product and service in competitive price. The native company cannot compete with those multinational companies who are using low cost labor overseas. As a result, company cannot survive resulting losses of jobs and bad impact in the economy. Other experts have different opinion on raising the minimum wages. They believe that by rising minimum wages it actually helps the country and its economy to get better. They thinks that if there is no minimum wages, the company can force a skilled staff to work in low pay and exploit the basic right of a labor.
Economist has another logic that if there is no minimum wages raised the money will not come back to the community; money will go to handful executives and owner of the company. This way although the company can perform well, it can generate significant amount of profit but the main working labor are not benefited. This can result the increase in the distance between the corporate community and the labor community and also push country into another political issue like many other country in the world.
If the minimum wages is raised, it has direct effect on the employee’s life style. The net income of the entire employee will increase and overall financial index of the country will rise. By setting up minimum wages and raising it helps the nation to behave every labor equally and maintaining the harmony among the people. With raised minimum wages everyone have...

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