Business Finance – Accounting

For this Discussion, you  will research the minimum wage laws. Your response must include a  discussion of both the advantages and disadvantages of minimum wage  laws.

For example, you might consider these differing perspectives as you approach your research:

Perspective One:  The U.S. Department of Labor has imposed a minimum wage since 1938.  Most states mandate minimum hourly wage rates, too. Minimum wage  legislation inhibits an employer from setting wage rates below the  directed amount. Although the goal is to help workers, significant  research reveals that minimum wage laws actually do more damage to  employees and the overall U.S. economy. Minimum wage laws predominantly  suppress employment opportunities for entry-level workers, youth, and  minorities, the groups that legislators and activists proclaim to be  helping with these policies. Although higher minimum wages may attract  more workers, if there are no jobs to fill, that work-force supply  increase will still exceed the demand for workers, thereby exacerbating  the problem of unemployment.

Perspective Two:  Some researchers suggest that a higher minimum wage rate attracts more  workers and reduces an employer's job vacancy rate; in addition,  decreased turnover will increase productivity and reduce the overall  cost of expanding employment.

Your response should summarize the findings of your own independent research.

In order to get full credit  for this Assignment, you must cite the source of your information by  posting the link to the original content. Remember, only scholarly,  peer-reviewed sources are acceptable. Biased sources are not acceptable  in scholarly research, especially sources with a political agenda.



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