There should not be an increase in minimum wage because it is unhealthy to the economy in the long run and it will be the major cause of job loss, increase in inflation, competition, and the price level of goods and services. Many argue that an increase in minimum wage will help guide low skilled workers out of poverty and assist them into having a better career. That is not necessarily true, Many economists can agree that minimum wage jobs such as cashiers, host or a hostess are not jobs that meant to support a family. If anything by raising the minimum wage, it will put more people in poverty than guide them out of poverty. A raise in minimum wage will cause loss of jobs, an increase in the inflation rate, increase in
Through my analysis, the main stakeholders such as the management will be quite affected since they will lose their credibility and profit by many loyal and regular customers leaving. Profit is the most important thing management always focuses on to bring above their costs and if there is any strike or huge amounts of boycotting, the management will be in trouble. Not is very important for business as it’s a special tool for marketing and customer benefits. In addition, the employee will be affected for most since many have already lost their and possibly in the future can lose their jobs. This goes for mainly full-time employees because it may be their only source of income that can give them a decent living to support themselves and their families.
Paying more taxes means that the people are less likely to be able to provide for themselves or their families. When the tax prices are raised employers start cutting wages. When the wages are cut people get mad and then begin to go on strike. If workers go on strike that means that there is nobody to make all the things that people rely on to
Dunkelberg states that raising the minimum wage could possibly destroy small businesses. If small businesses were to raise their minimum wage above ten dollars they will either have to fire some employees to make up the difference of the raise or they will have to raise the price of the product they are trying to sell. Just because the government were to increase the minimum wage does not mean you will get more work or better work out of the that individual so that business may need all of their employees. Because maybe they cannot afford to lose one so in return they would have to raise their prices, but the issue with that is maybe raising the price higher might just be enough to chase away customers to chain stores such as: Target, Walmart, or Kohl 's. That may mean their small business might close, just because they cannot financially support raising the minimum wage.
The rise in fuel cost and ongoing food crisis globally might be the economical factor that will affect Sainsbury because rising cost will affect the supply chain of Sainsbury which causes increase in its product prices and global food crisis will result in rise in purchasing costs for most of the things in supermarket which will pass over to customers by increase in price for most things and its product demand will decrease due to its high prices. At the same time due to improvement in consumers household income, reduction in unemployment rate and growing real wages recovered consumers confidence in purchasing goods they missed during recession
Changing the way economy is setup can drastically affects the lives of its citizens. The changing in economy has hurt many of it’s working class people. Some people can 't find any jobs and they are struggling. The lack of job opportunities in the country is hurting those who are americans and immigrants that are homeless. The creation of political machines are taking over the jobs that the people need.
We live in a depleting world. Although thoughts and awareness are being put in effort to save it, there are still reluctant demand and greed from people, who would want to acquire as much resource as possible for their personal benefits. Human’s greed lead to unsolvable problems both environmentally and politically. As natural resources are getting limited every day, it strongly affects not only to the people, but also to plants and animals. The consequences lead to creating higher risk of extinction, which means there will no longer be that specific species exist on earth forever.
Such a cut-down affects the industry and anyone related to this sector. On the other hand, inflation rates have a negative effect on the growth of the advertising industry. Inflation rates affect the prices of goods and services which also affects the purchasing power. If the purchasing power of the consumers decline, manufacturing industries will experience low returns. They will shift the burden to the advertising industry by reducing investment in the industry and therefore affecting growth.
Less skilled american citizens earn less money and have fewer job opportunities because they have to compete with immigrants in the job market. Hard workers could lose jobs to those who had just came to the United States. Illegal Immigrants should not
After bills and rent are paid for, people are left with nothing or next to nothing. Over time inflation will cause it to become harder to live because prices on everything will keep rising. When the minimum wage isn’t raised to compensate for inflation then people become stuck and are unable to move up in society because they have to pay more in order to live. If it costs more to live then minimum wage jobs become useless to move up in society because people are unable save money. Thus, minimum wage jobs will not help people move up in society and will continue to increase they wealth inequality between the rich and the