Essays on Wage

INTRODUCTION

The least amount of money offered to the workers in order to remunerate them for the tasks which they perform is called as the minimum wage rate (Saget, 2008). The wage rate offered to the workers is paid as suggested and prescribed by law. Usually the wage rate is denoted by hourly remuneration, and this rate is offered to the workers (Schulten, 2008). The legal authorities of the area are the ones which determine and negotiate the minimum wage rate which is permissible. The collective bargaining process includes the government regulations and this process specifically aims at proposing the Continue reading...

The effect of minimum wage on employment has been one of the most explored topic in the discipline of labor economics. During the global recession that plagued the world recently, the rate of employment for the low-skilled and young workers (who comprise the largest component of all minimum workers) worsened disproportionately. Traditionally, some economists have argued that the imposition of a minimum wage that is above the market clearing equilibrium wage reduces employment and at the same time contributes to unemployment particularly among the relatively unskilled as well as the young workers. This is quite ironical given that this Continue reading...

Abstract

Minimum wage legislation has diverse impact on county’s economy. This is because it interferes with market demand and supply of labor. The negative economic implications brought by increase in minimum wage are increased inflation, unemployment and under employment, investors opting not to invest in the country, and increased wage rigidity during times of business recession. Extend in which the effect is felt depends on the level of minimum wage in respect to equilibrium wage. Therefore the government legislation and collective bargaining agreements regarding minimum wage should be careful to avoid adverse effect caused by alteration of minimum Continue reading...

Introduction

The term, “minimum wage” refers to a lowest payment that an employer is bound to pay to its workers. Today minimum wage is made compulsory in more than ninety percent of nations including Canada where workers are demanding to increase minimum wages for a long time. Minimum wages are revised by governments in order to met growing needs of workers. There is a difference of opinion on the issue of increasing minimum wages among people of Canada. Employers and employees also have difference views on the issue of increasing minimum wage. This paper intends to discuss the issue of Continue reading...

Summary

Minimum wage legislation is a very popular and populist issue. There are both economic and social needs to be addressed in the matter. There are also very highly opposing positions in the discussions.
There are many arguments in favor minimum wage legislation. Perhaps, the most important among them are four rationales: poverty alleviation, reduce wage inequality, employee protection, and economic stimulation. Meanwhile, among the four more important arguments against minimum wage legislation are: increased unemployment, aggravated poverty, increased high school drop-out rate and prolonged unemployment periods, and reduced global competitiveness.
In the light of the present world economic crisis, Continue reading...

The term minimum wage rate refers to the minimum amount of compensation that an employee receives after performing a particular task. It is prudent to note that the minimum wage rate is established by either government legislation or the contract. This implies that it is illegal or unlawful to pay employees an amount that is less than the minimum wage rate that has been set by the government. The subject about the minimum wage rate has been debated for a long period of time. Some people argue that the minimum wage rate should be increased while others argue otherwise. Continue reading...

Maureen O’Herin

English 1A
Should the Minimum Wage be increased?
Minimum wage can essentially be described as the hourly wage rate set by the law, and it exists to ensure that people who work can earn enough compensation to support not only themselves but their families as well. The idea behind minimum wage has been in existence in American since the late 1800s and the early 1900s when the trade unions were formed and started agitation for better pay for workers from different professions. Since then, there have been various changes to the minimum wage over time, with the government adjusting Continue reading...

Introduction

Minimum wage has always been a contentious issue in the United States. The federal minimum wage has for a long time been placed at $7.25. However, recent years have seen the debate intensify on whether this federal minimum wage should be increased especially given the current tough economic times. Some have advocated for it to be increased while others have vehemently opposed any policy meant to increase the minimum wage arguing that it will have more negative repercussions than benefits. Various arguments have been forwarded either supporting to disapproving an increase in the minimum wage. This paper adopts the Continue reading...

Q. Does an increase in minimum wage result in a higher unemployment rate?

Issues and Background
In response to the great depression of 1920s, minimum wage laws were introduced. As the economy was suffering from a big set back characterized by falling prices, falling output and falling employment, NIRA, National Industrial Recovery Act (1993) was introduced in an attempt to curtail this downturn, encouraging the trade associations to formulate agreements of minimum wages and establishes price floors. The participating firms used to display a "blue eagle" logo. But just after two years the Supreme Court Ruled NIRA as unconstitutional and all agreements made under this act were terminated. After three years in Continue reading...

There is no doubt that the issue concerning the effects of minimum wages on employment has a subject of debate in many debates and equally generating varied interpretations in many economic debates (König, and Möller 716). This paper discusses the economic arguments for and against the minimum wage and incorporates graphs of the labour market showing the impact of a minimum wage in monopsonistic and perfect competition markets. Whereas proponents of minimum wage argue that minimum wage enhances worker commitment, encourages equality in income distribution, aids in reduction of worker exploitation, and reduces government’s expenditure on Continue reading...

Business

Introduction
In the United States, the minimum wage was imposed in 1938, by the federal government via the Department of Labor. Almost all the governments of the states have imposed the minimum wages. The minimum wage was imposed in order to prevent the employers form giving wages below the instructed level. But, the minimum wage generally ends up hurting the workers and the economy. “A higher minimum wage will cause job loss in the United States”.
In this paper, the job loss and unemployment that is resulting because of the minimum wage is discussed with the help of the Continue reading...

Introduction

Managing human resource is critical for any organization to deliver value to its customers, employees, shareholders and other stakeholders. Some of the aspects of human resource management include; recruiting, developing, motivating and compensating employees. Effective HR management also requires an understanding of broader issues that affect a business such as legal issues, socio-economic issues and globalization. This paper seeks to evaluate four critical aspects of HR management by review different articles. The four aspects are; minimum wage, training, group compensation and recruitment

Minimum Wage

In most countries, including in the United States, there is a legal provision on the lowest amount Continue reading...

Barbara Ehrenreich’s presents a clear and concise account of the methods that millions of American uses to survive the economic struggles in American. In addition, the 2001 book, “Nickel and Dimed: On (Not) Getting by in America” analyzes how individuals survive on minimum paying jobs.  Ehrenreich postulates that even though these individuals work under poor economic conditions, there is a strong “work ethic” present. But, this work ethic does not help to provide the basic necessities of transportation, food, and shelter.  For those individuals who work in hotels, restaurants, retail stores, and a number of other service jobs Continue reading...

Minimum wage can be defined as the lowest daily, hourly, or even monthly payment that employees can legally be given by employers. This is defined as the lowest wage in which employees can sell their labor. It is the statutory remuneration that is fixed by the Agricultural Wages Advisory Board and the General Wages Advisory Board or any other council of any sector which has been established by the ministry of labor. Constitutional minimum wages were suggested in order to control the explosion of different sweat shops and especially in manufacturing industries. Sweat shops were known to employ large Continue reading...

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Introduction
Over the last few decades, the American society has witnesses a remarkable dissimilarity in the wealth and income distribution in the country. Simultaneously, the American government has not been successful in effectively addressing the stated escalating inequality and bigotry to allocate assets and capital. Consequently, the outcomes are less efficient, less helpful, and less tolerant. Therefore, there is a widespread acknowledgment that the United States of America has turned out to be the most unfair and lopsided affluent country in the world. This inequitable attitude is evident by all logical measures (King 72).
Although the Continue reading...

The labor market is constituted by the employers and employees. The two distinct categories of people ensure that the goals set in any organization are achieved and accomplished. The minimum wage laws in any state categorically state the lowest amount of wage that a person can be paid for a stipulated amount of time when he or she is engaged in useful employment. The canons depict the minimum amount of wages per hour that are payable to any stipulated group of workers. In the United States, the Act has been enacted to ensure that the minimum wages set are Continue reading...

Introduction:

In today’s modern economy, a decent wage is an important part of the social fabric and makeup of the said economy. There is a substantial debate going on whether this wage should be raised since it currently stands at just $7 an hour in the United States although some states have already passed certain measures to increase this wage. New Jersey has been one of the first states to raise the minimum wage from $7 to $8.25 an hour, and this has also been indexed to inflation to avoid shocks to the economy. There are other states such Continue reading...

Kingsborough Community College

Identify the Problem
The problem is about the minimum wage experienced by most of the people working in public or private levels. Minimum wage is one of the challenging actual problems faced by many companies; however, there is always a possibility that this type of problem can be solved accordingly.

Explain the Problem

Minimum wage as an actual problem faced by many companies in public and private levels, probably the most talked about problem in the community. This problem does not matter how big or small is the company, it usually occurs when work and wages are involved. However, minimum wage has Continue reading...

Should Minimum Wage be raised?

Minimum wage refers to the lowest pay that is allowed by the legal authority to be given to the employed people (US Department of labor, 2010). It is the minimum compensation that an employed person receives after performing a certain job. Since minimum wage is set by the legal authority, it is illegal to pay an employee less than what is stated as the minimum wage in the country. In this connection, the minimum wage protects employees against exploitation from the employers. The minimum wages in various nations have faced a hot debate. This debate is based on three Continue reading...

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Introduction
Over the past several decades, there has been a dramatic inequality in the distribution of wealth and income in the United States of America. At the same time, the state has failed to aggressively address the mentioned increasing disparity and discrimination in allocation of wealth. As a result, the consequences have turned out to be less effective and less liberal. It is now widely acknowledged that by every logical measure, the United States of America is the most imbalanced and lopsided rich country of the world. As far as economic mobility is concerned, “the likelihood Continue reading...

Position statement topic: Eliminating Wage Bill

My position
The government should eliminate the minimum wage in order to pave the way for economic development and growth. Every government has a certain level of earnings set for its employees by the legislation. The issue of employment has been debated in the government for centuries and yet no solution has been reached.

Economic arguments against my position

- Implementing the minimum wage bill helps reduce poverty among low-income earners
Minimum wage favors low earners who face exploitation and discrimination in workplaces. Every firm has the responsibility of ensuring that their employees get enough compensation to cater for daily needs. The level of Continue reading...

Poverty has been attributed to low income, low wages and unemployment. The provision of a wage by the current federal law has been pinpointed as a means of control in order to reduce the working poverty level. However, the question of whether raising the federal minimum wage will work at improving the current population poverty rate is still an impending topic in the United States. Productivity in an individual firm is determined by the available work force. The raising federal minimum wage has adverse effects on the businesses and the country’s economy. State policies to increase the payroll Continue reading...

In Turkey, private versus public wage differences are common. What is not known is the extent of these wage differentials. In developing nations where the major wage employment portion originates from the public sector, the wage differences are common. The public sector can dictate the setting of wages and employment activities in the labor market. It is important to undertake a different analysis of labor markets of the public sector. This paper analyses the private-public wage differentials that prevail in turkey.
The Turkish public sector spending covers the wage bill as the biggest item. This represents a significant concern Continue reading...

Article Summary

Dorfman, Jeffrey. Almost Everything You Have Been Told About The Minimum Wage Is False.
Forbes, 1 Jan. 2014. Web. 9 Feb. 2014.
The article is about the minimum wage in America. He contends that, despite the determination from, the liberals, democrats and their union supporters to have the wage increased, almost everything about minimum wage is false. The author has reinforced his opinion by stating that the discussion over minimum wage only affects some people. The article provides that there are 3.6 million workers earning the minimum wage or below the minimum wage. That 2.5 percent of those workers Continue reading...

The wage fund concept is a doctrine or expression which was developed by Stuart John Mill and other contributors of economic theory and political economist in the 1800s. This theory seek to show that any amount that an individual earns as a salary/ wage and which is paid to him/her from a certain amount of funds that is fixed and available to him every year is usually determined by the association of capital and wages to any population change(Spiegel 300). Therefore, the wage fund model developed by mill is as follows;

Wage= Capital/ population

This Continue reading...

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Abstract

Of economic theory known such a thing as discrimination in the labor market . Discrimination on the labor market is the practice of hiring , which leads to differences in wages for equally productive workers . In the presence of wage discrimination against certain groups of workers is lower than that of other groups doing the same work with the same qualifications. Entrepreneurs often accused of discrimination on grounds of race , sex, age , disability , religious beliefs or ethnic origin .
Discrimination affects the functioning of labor markets . It generates differences in equilibrium wages , which do not appear in the Continue reading...

The wage bill is the amount of payment that an employer compensates an employee for performing a service. A minimum wage bill, on the other hand is the minimum payment that an employee receives for the service. Minimum wages are establishment by legislation by the central government. It, therefore, becomes illegal and an offence to compensate employees less than the minimum wage bill, as stipulated by the government legislation.
The main mandate of the minimum wage bill legislation by the government is to protect its citizens from exploitation by employers. This enables employees to be in a the position Continue reading...

Executive Summary

This report was commissioned to investigate whether fast food workers deserve a living wage as opposed to the current federal minimum wage and if so, ways of effectuating the same. To this end, the paper provides an analysis as well as an evaluation of the current financial estimates and cash flows as evident in the McDonald’s Corporation Annual Report and its capacity to deliver on the aforesaid. The research paper also draws attention to the Australian franchise and their business model which has been able to overcome the hiccups that now face the corporation in the United States Continue reading...

Introduction

Labour force participation rate is an important concept in economics and it is defined as the number of labours that are participating in the economic activities from the total number of labour available in the economy . The higher the labour participation rate of the economy, there are more chances that the economy would be stable and in a better situation.
As labour participation rate is an important and one of the most discussed topics in economics, this report discusses about the same concept. The report first defines the labour force participation rate and then highlights the importance of labour Continue reading...

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Abstract
Minimum wage law, today, has become a moot discussion point and there are difference of opinions among people about the advantages and shortcomings of minimum wage law. The purpose of this paper is to contribute to these discussions on the impact of minimum wage laws on its intended beneficiaries. The analysis suggests that the adverse effects of minimum wages like reduced employment, rising prices and unequal distribution of benefits for exist, but with small magnitudes. The minimum wage is still an important tool in improving the quality of life of the poor.

Keywords: Minimum Wage, price effect, unemployment effect

Minimum Wage: A Boon or a Continue reading...

Efficiency-wage theory states that the productivity of workers has a lot positive dependence on their wages. In a way, it explains the structural unemployment that is, to balance the supply and demand of labor, wages are set above the equilibrium wage. Labor union and other laws and regulations such as minimum-wage laws, also contributes to this phenomenon, and it also set on purpose to increase worker’s productivity. But this does not balance out the business cycle; the market does not clear and hence resulting into involuntary unemployment. There are several models that constitute this theory and explain its Continue reading...

Low wage living has become a common problem in the United States. This class of workers earns wages that cannot meet their daily basic needs. As workers, they face a lot of problems. Some people argue that low wage workers are unskilled employees. However, this is not true. The workers use a lot of energy and mental conentartion in the performance of duties. These employees also work in risky conditions and can be easily injured in the environment they work in. The other employees also mistreat them by giving them additional tasks. These people are very important in organizations. Continue reading...

Statement of the problem

The minimum wage is a controversy subject when it comes in receiving wages, as most workers will come to an agreement that, one can never be paid enough. Nevertheless, employers may cause problems with that declaration, believing that they pay greater than the amount entitled to the employees, hence creating a conflict between minimum wages.Arguments supporting raising the minimum wage In my opinion, I consider that it would be a good impression to increase the minimum wage. The motives behind this is because the cost of living has gone up to the level where individuals are not making adequate Continue reading...

Introduction

Barbara Ehrenreich in her book, “Nickel and Dimed,” covers some problems that are faced by low-wage workers. Albeit she is not truly a low-wage worker, Ehrenreich while serving in Florida, scrubbing in Maine, and selling in Minnesota actually becomes first hand eyewitness to the poor workers whose lives in fact are desperate due to their financial situations. She learns the application process of low job that involve numerous multiple choice questions as well as urine test. She uncovers special costs, which the poor encounter. She continues to investigate various problems that low-wage workers face.
The problems that poor workers Continue reading...

Wage and hour laws are enforced by the wage and hour division which is entrusted on ensuring that the nation’s labor laws are well enacted. These labor laws consist of the overtime wages, minimum wages for workers, provisions of child labor and the provisions concerning hours that workers are supposed to work in a week. United States came up with Fair Labor Standards Act to ensure that all united state’s workers complied with hour and minimum wage standards. Fair Labor Standards Act (FLSA) was enacted in 1938 as a measure for the standards for the overtime pay Continue reading...

Food service workers have had a history of poor pay. This can be attributed to the fact that food service employees do not adhere to minimum wages. They often give the excuse that food service workers are tipped by the customers thus paying their employees very little. In some cases, the tips that they make are even retrieved by the employees and in other cases, they are forced to share the wages with the cooking staff (Epstein, & Heizler, 2008). This just a few of the injustices that tipped workers go through on an everyday basis. What most employees do Continue reading...

Introduction

The term minimum wage denotes the lowest sum of money paid to workers or employees by employers in a given country or state. Minimum wages are expressed as the amount of money per hour that employees are entitled to from their employers. Calculations and formulation of new minimum wage rates in Florida is effected annually on the 30th of every September (Dittrich, 2011). The employers have the right to decide when they make minimum wage payments to their employees. Notably, the employers are not obliged to increment of employees’ wage rates based on the period that the workers have Continue reading...

Seattle’s Bold Minimum Wage Experiment

The study of microeconomics encompasses an assortment of units of the economy, how they function and how they reach their symmetry. In this analysis, the paper seeks to use the main theories covered under microeconomics in discussing the Seattle Minimum Wage.
The city of Seattle sought to raise its minimum wage to $15 an hour; a development that some may consider a bold move accompanied with a sense of utopia. In essence, the experiment is an untested move whose effects are unknown. Is it, therefore, prudent to consider a matter reliable if it has no tested truth? Certainly not, Continue reading...

Macroeconomics introduces the variables that are external and factors that affect the economics. It has various pillars such as unemployment, price stability as well as balance of payment. These elements help in defining the status of the country’s economic level in comparison with the development. In the employment of the resources that are available in regard to the technological improvement shows the utilization level and hence economic growth. In the employment, the work force demand remuneration according to the skills and the level of the production. This introduces the wage and salaries as the means of compensation. It Continue reading...

Abstract

This paper first examines the factors contributing to the widening of the income distribution in the United States. It then explores the theories and trends in income distribution based on the macroeconomic and other indicators that have affected the distribution of income in recent decades. We found that the impact of inequality of income distribution affects the economic growth. The widening of the income distribution has contributed to a critical assessment of government policies. The paper also cautions the trend in the distribution of household income in the period between 1976 and 2007 based on the Gini index. Similarly, Continue reading...