How does minimum wage affect the labor market? What would the effect of increasing the minimum wage on the unemployment rate and labor market, if the minimum wage was binding? Explain What would be the impact of an increase in the minimum wage on demand and supply...
Each state sets its own minimum wage, which may be higher than the federal minimum wage. On Jan. 1, the minimum wage increased in 20 states.
minimum wages can affect a company’s profitability if the job performed has less marginal value than the hourly rate paid. In the U.S., National Minimum Wage is called Federal Minimum Wage. This rate is approved by Congress and the current rate is $7.25. This rate is mandatory for any ...
Read the full-text online article and more details about "WHAT'S NEXT: MINIMUM WAGE; Minimum Wage Increase Will Affect Businesses" by Bustos, Joseph - The Florida Times Union, November 29, 2004By BustosJoseph
a. What is minimum wage? b. What are the possible economic effects and outcomes of raising the mininum wage rate to labor and job market? c. If you were the president, would you be in favor of raising How does minimum wage affect the labor market? What w...
How Does the Minimum Wage Affect the Economy? The impact of the minimum wage on the economy is a complex issue. Supporters argue that increasing the minimum wage can stimulate consumer spending and boost the overall economy by putting more money in the hands of low-wage workers. Critics, ...
What if the Constitution prohibits the government from taking property from people without charging them with wrongdoing and proving the charge to a jury but the government does so anyway? What if the courts have declined to interfere with all this theft?
And, the IRS does not have any specific federal mileage reimbursement rules. However, you still need to follow minimum wage requirements if you don’t offer mileage reimbursement. Make sure you pay employees at least the minimum wage after deducting mileage expenses. Some states, like California ...
Less flexible labor markets are subject to more rules and regulations includingminimum wages, restrictions on firing, and other laws involving employment contracts.Labor unionsoften have considerable power in these markets. Some of the other factors that affect labor market flexibility include employee sk...