Raise Of Minimum Wage And Its Effects.
                     Raise Of 
Minimum 
Wage And Its 
Effects
Introduction
The idea of raising the minimum wage is noble 
and commendable, but many of the arguments 
rely upon raw emotion and neglect sound 
economic ramifications that will adversely 
impact the same people it's trying to help.
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Negative 
consequences
Raising the minimum wage has a number of 
serious and negative unintended consequences. 
Employers, especially small family and midsize 
businesses, will be disproportionately hurt by 
the extra costs incurred.
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Other consequences
The local neighborhood stores and businesses 
with razor-thin profi ts will be forced to raise 
prices to make up for the addition labor costs. 
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Losing customers
With the increased prices, customers may elect 
to take their business elsewhere. Losing 
customers means losing income, which could 
result in the business having to layoff  workers. 
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Increased labor costs
Large corporations with big budgets will weigh 
the increased labor costs and elect to invest in 
technology to displace workers. 
This trend will soon become prevalent in the 
food service industry, hospitality, retail, 
construction and manufacturing.
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Technology take over
It's easier and less expensive to have 
technology take over. The unintended 
consequence will be that there will be far fewer 
jobs available for those that need them most.
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Benefit
While some people may benefit with an 
increase in their hourly earnings, other 
employees will be let go to save costs. 
Employers may elect to cut hours across the 
board for everyone. 
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The Past
The minimum wage jobs were primarily an entry 
point into the workforce. The lower-end job was 
the ideal place to learn about the real world, 
how to deal with managers, interact with 
customers and gain the experience to move 
onto bigger and better things.
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Conclusion
We should offer apprenticeships to learn 
marketable skills in a specific trade. 
If a person could learn to become an 
electrician, carpenter, plumber, heating and 
cooling professional or mechanic, they could 
built a long-term financially rewarding career.
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THANK YOU
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