Minimum Wage- Kilali

Kilali Latter
Mr. Roddy
IHSS
26 March 2020
Raising Minimum Wage
In 2014 Seattle passed a $15 minimum wage law that would progressively raise minimum wage until 2021. This minimum wage law has led to varied results for businesses and workers. The pay raise has also boosted morale and brought more dignity to the workers. Workers are feeling more appreciated when they do something for $15 compared to when they do that same thing for $9. Although there is higher pay some workers have opted for fewer hours or were only offered fewer hours. For businesses, there were many different results from this minimum wage increase. Fire & Vive Hospitality decided to change their business model to work with the minimum wage increase. Since they have changed their business model they have seen tremendous growth and this wage increase was more beneficial than hurtful to them. On the other hand, some businesses have been unable to pay for the higher labor costs as well as their other expenses and have had to close. Some businesses have been looking into less labor-intensive models in order to cut down their labor costs. This minimum wage law has been good for businesses but has been bad for others. 
This information about how the $15 minimum wage law has affected people and businesses in Seattle is very important. Currently, some Democratic presidential candidates have looked into increasing the federal minimum wage from $7.50 an hour to $15 an hour. These results help them see how this would work and affect the entire country. I think that it is a great thing that Seattle is increasing the minimum wage but there are definitely some downsides to it that affect businesses negatively. If businesses are able to adapt and maybe change their models to something that works with this minimum wage increase there could be a lot of benefits for everyone. 
Works Cited

Comments

  1. Sutton WalshMarch 27, 2020 at 11:33 AM

    Interesting! At the end of your first paragraph, you talked about how minimum wage was effective for some businesses and ineffective for others. Are smaller or larger businesses more likely to benefit from raising the minimum wage? Another potential downside to minimum wage is that businesses will want to hire only employees from impressive backgrounds because, since they have to pay them more, they want them to benefit their company. Thus, raising the minimum wage may fail to aid those from low income (which is what it is designed to do). How does the minimum wage of the US ($7.50) rank in comparison to the rest of the world? Do the majority of countries have a set minimum wage?

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