Minimum Wage Is The Lowest Payment Permitted By Law Or...

Minimum Wage Minimum wage is the lowest payment permitted by law or special agreement (labor union). Minimum wage jobs are normally designated for young adults or teens. It does not really permit a suitable living wage for a person with a family. The jobs with minimum wage are learning positions. They enable the worker to gain skills for higher paying jobs. Raising the minimum wage presents a series of advantages and disadvantages to the worker and the economy. Minimum wage was introduced in 1938 during the Great Depression by Franklin Roosevelt. Congress composed minimum wage with the Fair Labor Standards Act (FLSA). The initial wage was set at 25 cents an hour. Minimum wage fluctuates greatly in inflation-adjusted buying power.The current national minimum wage is $7.25. Congress normally only permits the minimum wage to be raised during low unemployment and a stable economy (James Sherk, 2015). Jobs that pay minimum wage are typically jobs for teens in the summer and after school. Although some adults work at jobs with minimum pay; they normally are not the sole income for the family. According to Sherk (2013) only 2.9% of Americans work at a job with minimum wage. Although, over half of that 2.9% are people that range from ages 16-24, and 24% of that 50% are teenagers ages 16-19. Twenty-three of the fifty states contain higher minimum wages over the federal standard (Desilver, 2014). Raising the minimum wage is a continual topic. President Obama recently proposed thatShow MoreRelatedIndustrial Relations-Labour Laws6823 Words   |  28 Pagesdetailed examination of the Jamaican Labour Laws HRNM 6015/ HR67A Industrial Relations and Negotiations (Semester II: 2013) University of the West Indies Department of Social Sciences An exploration into whose interest is served by the law and the reality of a class bias. 04-029353 Submitted as partial completion of the requirement for the Masters of Science Degree Human Resource Development at the UWI (Mona) Introduction Labour law in the Caribbean and Jamaica in particularlyRead MoreIndustrial Relations-Labour Laws6832 Words   |  28 Pagesthe Jamaican Labour Laws HRNM 6015/ HR67A Industrial Relations and Negotiations (Semester II: 2013) University of the West Indies Department of Social Sciences An exploration into whose interest is served by the law and the reality of a class bias. 04-029353 Submitted as partial completion of the requirement for the Masters of Science Degree Human Resource Development at the UWI (Mona) Introduction Labour law in the Caribbean andRead MoreThe Difference and Commonalities Between the Labor Law of Mainland China and Hong Kong11237 Words   |  45 PagesThe different Labour law requirements between Mainland and Hong Kong The Labour Law of China is the law formulated in accordance with the Constitution in order to protect the legitimate rights and interests of laborers, readjust labor relationship, establish and safeguard a labor system suited to the socialist market economy, and promote economic development and social progress. 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