Minimum wage helpful or disastrous for Americans Did you know that millions of minimum wage workers cannot make enough money to be over or at the poverty line level and are actually a lot more below it instead? There have been many issues on the topic of increasing the minimum wage from ten to fifteen dollars because it can cause inexperienced workers having a tough time getting or looking for jobs, families not being able to live on the minimum wage the way it stands now, and businesses not being able to create more jobs to hire more workers. For instance, an author named David Neumark believes that the effects of the minimum wage have a major issue that increasing minimum wage can reduce the numbers of jobs and pretty much screw over workers
Vilorio (12) contends that the youths need to understand the essence of hard work and working their way up a college degree. A free college education will not only bring the quality of higher education down, but it will also strain the taxpayer's resources. In the end, free education will negatively impact the economy. This essay opposes free college education due to its adverse effects on the government, citizens, task force and the
If they raised the price than the people who make minimum would have to make more money so they would have to work two jobs making they spend less time with friends and family. Raising minimum wage would do absolutely nothing because it 's like if you had 2 dollars and something cost 4 you work a week get 20 dollars and then have 22 you can buy it but then the price raises to 26 dollars and so on. Finally people suggest the fact that even if you raise minimum wage than not all people would still want a job and it would be harder to find a job making the poor population either rise because of people getting fired or get better because of people finding
This is because it would increase the unemployment rate, harm worker health and step up living expense. Minimum wage law tends to have a worse effect on the employment rate. In fact, 90% of the company in Hong Kong is small and medium enterprises and their daily operation is already difficult. By setting up the SMW, those companies are required to follow the law but most of them are not able to afford the extra expenses from pay rise. According to Schmitt (2013), the minimum wage has slight or even no noticeable effect on the employment rate in that the cost generated by minimum wage is large relative to most of the firms.
Farmers will not benefit if the price will increase instead it is considered as a threat to their livelihood. If the government wants to discipline the companies who distributed cigarettes and alcohol, as well as the smokers and drinkers, they must have to provide programs that will assist tobacco farmers to avoid the existence of higher unemployment rate of the country which is also massive nowadays. Therefore, looking at the positive side of this policy also creates a dark side not just for the companies and smokers and drinkers but will also affect
There is a risk of loss of talent and skills, since a great amount of university graduates are unable to find a job and put their knowledge and capabilities into producing innovation and contributing to economic growth. Furthermore, having a large share of the young workforce unemployed, not only leads to reduced productivity and gross domestic product (GDP), it also increases the economic costs for the country, since there is a need for more money to be paid out on social grants and less money coming in from taxes. High unemployment rate also pose as a threat to the safety and security of Gauteng province, youth are most likely to resort to other measures such as
According to research, the practice of hiring a worker as irregular is to avoid giving them the benefits they are legally mandated to receive, which allows capitalist to have a higher profit, hire more workers and contribute to the economic growth. Seeking for a job is a very difficult task; the companies out there nowadays are being too picky in their employees. According to Thomas Carlyle (2010), “A man willing to work, and unable to find work, is perhaps the saddest sight that fortune’s inequality exhibits under the sun.” This is a proof on how unfair life is, in order to have a stable job, one must be well and highly educated – that will always be the standard. Harry Truman
Governments introduce these bans in an attempt to correct the market failure of unequal distribution of incomes; where those on lower incomes get hit harder by the rise in the price. From an economist’s point of view, bans are a bad idea. They create a price ceiling below the equilibrium after the demand increase. The excess demand can cause queues so consumers pay in waiting time instead of higher prices. It can also lead to suppliers allocating the goods to their family and friends or can even lead to a black market where consumers buy up the market and sell at higher prices to earn a profit.
In particular, high population growth has resulted in higher levels of unemployment. The education system produces skills that are not valued by employers, while raising the expectations of those who acquire them. Consequently, the unemployed do not take up existing job vacancies, and employers are unwilling to hire available candidates (Njonjo, 2010). The mismatch is more marked for school leavers and graduates who have just finished school, partly providing an explanation for the high unemployment rate among youth and new entrants into the job market. The suggested remedy is to reform the education system and increase focus on technical education and vocational training, matching them to the needs of the job market (Coenjaerts et al.
Most of the jobs at private and public sector require highly experienced applicants that they do not posses. Constantly increasing population can also be taken as a potential reason for the high youth unemployment. Low wages in the labor market is also one of the causes of the youth unemployment. Many young people reject jobs that are offered to them at low wages. Youth unemployment in few recent years has been increased because of the low foreign and domestic investment.