Minimum Wage Essay Example for Free

Minimum Wage Essay Increasing the minimum wage has been considered to be one factor that results in higher unemployment rate. Various authors on this subject outline different views on the effects of increasing the minimum wage on unemployment rate. One study shows that effect on increasing the minimum wage varies in different economies. Another says increasing wage rates does not affect unemployment rate. And, there are also studies which indicate that there is an effect although not that significant in affecting occupation loss. This paper aims to present issues that will provide clear views on whether an increase in the minimum wage results in higher unemployment rate. Wage rate is the representation of the non-existent to the slightest bargaining power of the workforce (Bernstein and Schmitt, n. d. ). Increasing the minimum wage is done to alleviate poverty. (Macpherson, 2005; Bernstein and Schmitt, n. d. ). Its main goal is to help low-wage workers uplift their income and cope up with the rising cost of living (Page, et al. , 1999). However, it has been criticized because of its ill effect on employers’ business. It has been said that an increase in the minimum wage rate would cause unemployment. There had been studies about the effects of the minimum wage rate hike, but they do not point out to one outcome. Different economies have different outcomes when subjected to minimum wage increase (Fields and Kanbur, 2005). Different countries have comparative results when an increase in the wage rate is implemented. However, it will certainly be effective for the low-wage earners. An analysis made by Burkhauser and Sabia (2005) showed that an increase in the minimum wage rate has not been effective as far as poverty alleviation is concerned because the increase was given only to low-wage earners. Other workers earning higher wage but were also within the poverty level were not granted similar increase, as such only those employed in minimum wage rate jobs were able to realize the benefits. The effect of the wage rate, in this case, does not necessarily address the needs of those with low incomes. Not all people that are in need of the wage increase are working at a minimum-wage earning occupation. Increasing the minimum wage is also believed to be favorable for the poor working men and women. However, its effects are far from helpful, in fact, increasing the minimum wage is hurtful to business and may result to unemployment. The wage hike will cause the salary of low-wage jobs to be equivalent to the salaries of those in higher job levels. Since these jobs have higher requirements in terms of skills, the least skilled are more likely to be laid off from work. A minimum wage rate hike and its effect on unemployment were seen in the study of Brown (1988 as cited by Burkhauser and Sabia, 2005). An increase in the wage rate caused a small decrease in the employment of teenagers. The decrease upheld the theorized increase in unemployment rate for an increase in the minimum wage rate. A study also showed that it is not a matter of how much the laborer is earning, the salary that a worker receives, which will improve in case of a minimum wage increase, but the employment status of the worker. These workers are more likely to be dismissed when a company suffers loss, in the form of higher operational costs, as a result of minimum wage hike. (Deere, 1998). The study further showed that not all workers earning a minimum wage rate are actually poor and may not in need of the increase (Burkhauser and Sabia, 2005). Most of the workers that will benefit from wage increase are the young workers, aged 24 or younger (Macpherson, 2005). The workers that are aged 24 or younger are mostly employed in these minimum-wage earning occupations. In addition, a higher wage would mean more interested workers but due to the surplus of workers, a crowding out would occur or less hours of work would be allotted per person. This would result to a decline in the earnings of each worker (Page, et al. , 1999). Macpherson’s study (2005) in Pennsylvania indicated that an increase in the minimum wage rate would really be costly for employers and thus, lead to mass laying-off of workers. Few firms are able to continue operation given the increase in wage rates, hence only few workers are needed. The company may retain more workers but may reduce the working hours for each employee. In both cases, the low wage earners are the ones affected because they may get the desired increase in wage but may end up spending little time for work, hence reducing their income. However, a study indicated that retail jobs are the only jobs which prove that higher minimum wage rates decrease the employment (Fox, 2006). For other firms, it would be better to engage in other programs that may promote increase in work-hours instead of increasing the minimum wage rate to motivate employees. One way to alleviate poverty is to consider the family income of low-wage earners. Extending non-monetary benefits will somehow improve the lives of minimum wage earners and can be given to them in lieu of the wage increase. (Burkhauser and Sabia, 2005). Minimum wage hikes are beneficial to workers and companies alike. It keeps the workers to stay in the company for a long time, thus developing loyalty to the job. Although granting an increase in wage to workers may add up to operating expenses of a company, still it is benefited in the long run because it will not incur cost on training new workers. Fox, 2006). Periodic grant of an increase in the minimum wage rate is needed to augment workers’ income, such that they are able to cope up with the rising cost of living. The slightest increase in their wages raises the workers’ economic well-being since it makes them more capable of financing the most basic needs of the family. This is particularly true for workers who are the heads of the households (Burkhauser and Sabia, 2005; Bernstein, et al. , 1999). An increase in unemployment is not necessarily caused by an increase in the minimum wage rate (Fox, 2006). A classic example in this theory was the increase in the minimum wage rate in the years 1996 and 1997 that did not lead to the dismissal of teenagers, which were believed to be less skillful workers (Bernstein and Schmitt, n. d. ). If the increase in the wage rate does cause a significant decrease in employment, there would have been larger decreases in the employment over the years (Card, 1992 as cited by Fox, 2006; Bernstein and Schmitt, n. d. ). Wage hike does have psychological effects on workers such as: higher productivity, decreased turnover, lower recruiting and training costs, decreased absenteeism and higher morale, which are believed to offset the costs of increasing the wage (Bernstein and Schmitt, n. d. ; Card and Krueger, 1995 as cited by Fox, 2006; Bernstein, et al. , 1999;). Increasing minimum wage rate even attracts employment (Clinton, 1995 as cited by Burkhauser and Sabia, 2005). The effect of increasing the minimum wage rate on the rise in unemployment rate is generally small and statistically insignificant (Bernstein and Schmitt, 1998 as cited by Fox, 2006). Decreases in the unemployment rate may also be caused by the wage hike, but only to a small extent. A more likely cause of unemployment is the performance of the economy (Chipman, 2006 as cited by Fox, 2006; Costales, et al. 2000), one of which is the existence of a deflationary gap. It is a situation wherein the aggregate expenditure of the economy is less than the full employment level of income or output, hence suggesting the existence of unemployment (Costales, et al. , 2000). In fact, empirical studies show that the employment on firms which implemented the higher minimum wage rates are higher than those without the raise, which both have positive and negative effects (Burton and Hanauer, 2006 as cited by Fox, 2006). The negative effects of more employment were stated in preceding pages of this report. The overall positive effects of the increase in the wage rate set a sense of value for low-wage workers’ employment and uplift their living standards. (Fox, 2006). It serves as one of the tools in poverty reduction because the primary goal of the minimum wage policy is to increase income of the low-wage earners (Burkhauser and Sabia, 2005). Raising the minimum wage rate affects employment opportunities. It makes job seekers less likely to get a job while those who are already employed are expected to retain the employment. (Deere, 1998). Firms who do not have the money to shoulder additional wages for an increase in the minimum wage rate are usually the ones who are against the implementation of wage hikes. This is the primary cause of laying off of workers and the increase in the unemployment rate. This also is the cause of firing less skilled workers because firms opt to retain the workers who are more skillful. However, if the firms are able to sustain the costs, the increase will be both beneficial to employers (moral uplifting and better performance of the employees) and to the workers (higher income for basic needs). Increasing the minimum wage of low-salaried workers is part of the bargaining agreement between the workers’ union and the company. It is given in the hope of alleviating poverty. However, study shows that it may not be true in all cases because some companies may opt to adopt work allocation among workers which could mean limited time for work meaning limited income on the part of the affected workers. Though increasing minimum wage may result in higher operating costs, the increase is not the only factor that affects the employment status of workers. Effects of increase in the minimum wage vary in different economies, hence the country’s economic performance directly affects unemployment rate due to the presence of deflationary gap. Increase in the minimum wage rate does not directly affect the unemployment rate, but rather, it affects the costs of the firms. In turn, these firms which cannot operate at a higher cost screen their current workers and cut those who have little experience to maximize their returns. However, there are firms which value the welfare of the workers and treat it as part of the working costs included in the production. Thus, they consider additional costs, resulting from wage hikes, negligible. Therefore, increasing the minimum wage does not result in higher unemployment rate.

Health Effects of High Fructose Corn Syrup :: Sugar HFCS Artificial Sweetener Food

Health Effects of High Fructose Corn Syrup Abstract: What is high fructose corn syrup? Is it some kind of disease making machine? High fructose corn syrup is causing many problems in the United States and two of the main problems are obesity and type two diabetes. There are also many other diseases that branch off from these two main diseases, like liver and heart disease. In this paper, the reason why high fructose corn syrup is becoming such a huge problem in the United States will be explored. The Japanese first developed high fructose corn syrup. When they saw that it is more cost effective than other sugars, other companies started to use high fructose corn syrup in their products. High fructose corn syrup is a sugar made of fifty-five percent fructose and forty-five percent glucose. Compared to normal table sugar, which is fifty percent fructose and fifty percent glucose, it doesn?t seem like much. Yet the fructose in high fructose corn syrup is less attached from normal sugar. This fructose that is free from the glucose part is more harmful to the body. It was first introduced in 1970 but it hasn?t been actively used until the late 1900?s. Yet because we started to use high fructose corn syrup, it is now causing a lot of problems. It has many negative side effects after consumption, and most of the consuming is done in the United States. Two of the main problems caused by high fructose corn syrup are obesity and type two diabetes. Some of the other branches of these problems are liver and heart disease, osteoporosis, an increase in triglycerides, and many other kinds of health problems. Since high fructose corn syrup is very common in our daily diets, ranging for drinks to desserts, it is becoming a huge problem. (Severson, K. 2004) One of the main problems of high fructose corn syrup is obesity. Eating high fructose corn syrup is like eating fat. Fructose isn?t absorbed the large intestine or the first part of the small intestine. Fructose is absorbed in the jejunum at a much higher rate than normal glucose. After it is absorbed, it goes to the liver, where it is converted to fatty acids. When someone consumes too much fructose, the liver is unable to convert all of it so it can be absorbed improperly.

Role Model Review

For this assignment I have chosen a leader that is in charge of overseeing the over 300,000,000 people of the United States of America, (The World Fact Book, July 2010) the 44th President of The United States of America, Barack Obama. The primary duty of the president of the United States is to make sure that all United States laws are carried out and that the federal government is run effectively. Although the president may not introduce new legislation he does hold the awesome power to veto all bills that are approved by the legislature. In addition, the president has the weighty role of commander in chief of the armed forces. As the nation's chief executive, the president oversees foreign policy, making treaties with foreign nations and appointing ambassadors to other nations and to the United Nations. He also appoints members of the Cabinet, as well as Supreme Court justices and federal judges. As you can tell the job of the president of The United States is full of responsibilities and is a job that should not be taken lightly. When president Barack Obama was elected to office in 2008 it was an election of epic proportions. That year there was not only the first African American running for president, but also the first female. After the primary elections it was clear that the race for the 44th president was going to be between Republican candidate John McCain and Barack Obama. President Barack Hussein Obama II has a story that American dreams are made of. He claims to have been raised with values from the heartland, a middle-class upbringing in a strong family, hard work and education as the means of getting ahead, and the conviction that a life so blessed should be lived in service to others. He was born in Hawaii on August 4, 1961. His father was from Kenya and his mother was from Kansas. He was raised with the help from his grandparents. His grandfather served in Patton's army and his grandmother was a secretary at a bank. Barack worked his way through college with the help of scholarships and student loans. (whitehouse.gov) President Obama has claimed to be a Christian, but there has been many who would question this because of his Muslim roots. President Obama has been quoted as saying that he has attended the same Christian Church for the past 20 years. (The associated Press) This is after he was accused of being an Islamic terrorist because his father as well as his step-father were both Muslim. President Obama and his family were in fact members of The Trinity United Church of Christ in Chicago until he had a disagreement with his pastor. (The associated Press) There are things that President Obama has endorsed throughout his campaign and throughout his presidency that I do not agree with. I do not agree with his issues on abortion, even though he did stop federal funding of it. I am also not a fan of his health care reform. I believe that there are other ways than what he is proposing to make sure that the American people have affordable health care and health care coverage As with any leader there will always be things that everyone dislikes and things that only some people like. This is after all a free country that is driven by freewill and democracy. Personally I can see why people would hold president Obama to the standards of a role model and even a hero. His story is truly amazing and is an example of the American dream. I however would not say that he is a perfect person to be a role model. As I mentioned before I do not agree with a lot of his policies or that he has a Muslim background. I also do not agree with the thought of a public official being thought of as a role model for children when he openly discusses his battle with nicotine. There are really none of us that are perfect, but as Christian's we are to strive to be Christ like. Throughout the past few years I have watched as president Obama has delivered public addresses and wondered if he were turning religion and faith into the same thing. The only way that he can talk about religion is to talk about his faith, but never specifically mentioning what he has faith in therefore turning faith into an irrelevant flourish of sentimentality that one can choose to wrap around social justice or dispose of completely. I feel that this is bringing religion down to the lowest common denominator. I cannot look at a man as a role model that tries to make Christianity politically correct.

Data Analysis Data Mining - 1398 Words

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