Research Paper on "Does the Presence of Minimum Wages Stunt Job Market Recovery?"

Research Paper 3 pages (1027 words) Sources: 4

[EXCERPT] . . . .

Minimum Wage Stunts Job Market Recovery

The complexity of our economic situation lies in the fate of the United States Government's ability in finding a solution to increase the employment rate. Our entire economy is based on the circulation of our money - the give and take of providing jobs that pay employees, which let those employees pay other employees for their goods and services. It is a ripple effect, based on the ability to supply jobs for people. Of course, people need to earn the right amount in order for this effect to work and have a well-balanced economy, which is where minimum wage comes in handy. However, if the minimum wage is set too high, employers will not be able to afford having many workers in their company, particularly within smaller companies. Considering our country's current economic situation and unemployment rate, people need to take into consideration whether the minimum wage is part of what is stunting our job market recovery. In my own opinion, considering the researched data, it definitely seems that minimum wage does indeed have a negative effect on our job market recovery.

High-paying positions are not exactly affected, if at all, on the rise or fall of the minimum wage. Companies that pay their employees based on a salary do not need to consider the current minimum wage. However, the jobs that require individuals to do the manual labor, and that do not require an education depend on the minimum wage. So, having a sudden rise in labor costs will greatly please workers, but definitely disappoint employers. As was mentioned in Buy Like Buffet in 2009, the companies that offer customer service are affected the most, particularly when there is a

Continue scrolling to

download full paper ⤓

raise in minimum wage: "… the minimum wage increase will hurt individuals seeking employment in lower level jobs the most... Consumers will have to pay more for goods and services at a time when money is already tight." (http://buylikebuffett.com/index.php/tag/minimum-wage/). It is the companies that can only afford minimum wage that will feel the hit during years when the minimum wage is raised. If it likely that a higher minimum wage will stunt the job market, then that just shows that minimum wage has a definite affect on the job market.

An article by the Wall Street Journal reported that in April, "…figures last week show the June unemployment rate hit 9.5%. Consumer confidence, consistently low, retreated in June, translating into weak traffic at restaurants, car washes and hotel, all places that rely heavily on minimum-wage workers," (http://online.wsj.com/article/SB124684183990798403.html).The economy is based on giving and taking money between consumers and industries -supply and demand. Watching a decline in the demand for goods and services hurts the smaller companies, which in effect causes lay-offs.

Observing the effect minimum wage has had last year shows the direct impact on the economy minimum wage has, which is why some people look at a rise in minimum wage as worsening the economy. However, the Economy Policy Institute claims that, "In general, there is no valid, research-based rationale for believing that state minimum… READ MORE

Download Full Paper

Write a New Paper for Me

Quoted Instructions for "Does the Presence of Minimum Wages Stunt Job Market Recovery?" Assignment:

“

Pick one of the research questions below and write a short research paper. (2-3 pages

long, single spaced)2 Your research paper should answer the question comprehensively:

*****¢ Does the presence of minimum wages stunt job market recovery?

*****¢ Does the presence of labor unions stunt job market recovery?

There are no restrictions imposed on the style or presentation of your paper. You will not

be punished for mechanical errors ***** unless they are beyond the tolerable level. Your only

job is to give a definitive answer (Yes or No!) and defend/explain/justify that answer by

providing scientific and/or statistical evidence. Remember that this is an independent

research paper. As such, you*****re required to identify and locate references/sources to

support your argument. You can use published articles, credible websites, datasets, and/or

textbooks. However, you*****re required to cite at least two references from the Wall Street

Journal. Failure to do so will result in point deduction. The very last page of your paper

should be reserved for *****˜works cited/references*****. I want to see every single reference used

or mentioned in your essay. You can pick the referencing style you want. As long as I can

identify the references, all styles will do. Please understand that your work will not be

accepted without a proper *****˜works cited/references***** page. A usual, plagiarism will not be

tolerated.

This assignment was designed to test the critical writing skills listed below and will be

graded according to the corresponding writing rubric:

1. The ability to pick and present a main theme

2. To have a clear and definitive purpose

3. The ability to plan and outline an independent research project

4. The capacity to conduct independent research

5. The ability to identify and locate references

6. The capability to provide supporting evidence based on reference material

7. The presentation of a coherent flow of ideas

8. The facility to use deductive reasoning

9. The capacity to draw substantiated conclusions

10. The proper use of citations and reference styles

11. The ability to significantly contribute to a scientific debate

How to Reference "Does the Presence of Minimum Wages Stunt Job Market Recovery?" Research Paper in a Bibliography

“Does the Presence of Minimum Wages Stunt Job Market Recovery?.” A1-TermPaper.com, 2010, https://www.a1-termpaper.com/topics/essay/minimum-wage-stunts-job-market/9005395. Accessed 5 Oct 2024.

Does the Presence of Minimum Wages Stunt Job Market Recovery? (2010). Retrieved from https://www.a1-termpaper.com/topics/essay/minimum-wage-stunts-job-market/9005395

A1-TermPaper.com. (2010). Does the Presence of Minimum Wages Stunt Job Market Recovery?. [online] Available at: https://www.a1-termpaper.com/topics/essay/minimum-wage-stunts-job-market/9005395 [Accessed 5 Oct, 2024].

”Does the Presence of Minimum Wages Stunt Job Market Recovery?” 2010. A1-TermPaper.com. https://www.a1-termpaper.com/topics/essay/minimum-wage-stunts-job-market/9005395.

”Does the Presence of Minimum Wages Stunt Job Market Recovery?” A1-TermPaper.com, Last modified 2024. https://www.a1-termpaper.com/topics/essay/minimum-wage-stunts-job-market/9005395.

[1] ”Does the Presence of Minimum Wages Stunt Job Market Recovery?”, A1-TermPaper.com, 2010. [Online]. Available: https://www.a1-termpaper.com/topics/essay/minimum-wage-stunts-job-market/9005395. [Accessed: 5-Oct-2024].

1. Does the Presence of Minimum Wages Stunt Job Market Recovery? [Internet]. A1-TermPaper.com. 2010 [cited 5 October 2024]. Available from: https://www.a1-termpaper.com/topics/essay/minimum-wage-stunts-job-market/9005395

1. Does the Presence of Minimum Wages Stunt Job Market Recovery?. A1-TermPaper.com. https://www.a1-termpaper.com/topics/essay/minimum-wage-stunts-job-market/9005395. Published 2010. Accessed October 5, 2024.

Related Research Papers: