Effects Of Raising Minimum Wage

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There are many effects of raising minimum wage to the U.S. economy in both negative and positive ways. When minimum wage is increased, it is supposed to help improve the lives of the workers and their families since they will have more income. It is especially meant to help lower income families. This is great for those families, but the company and economy can suffer from this. When minimum wage increases, companies have to pay more to their workers. This prevents the company from being able to hire as many workers as they were able to before because they are now paying their current employees more. So, this takes away from the original budget that was put in place for employee salaries. As a result, there is a higher unemployment rate,

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