Minimum Wage Legislation Essay -- Minimum Wage Essays

Minimum Wage LegislationI am going to pose the question to you the students of Sir Sandford FlemingCollege, do you really want the stripped-down net profit economy left in affect? Ascollege students you are not benefiting or gaining anything from stripped-down absorblegislation. The minimum wage legislation requires all employees to be paying(a) atleast some cooked given sawhorse amount per hour. This sounds good, nevertheless it isntall that it seemsMinimum wage is an example of government intervention. The government has ready aminimum on the dollar amount that employers can pay their employees.Unfortunately when we implement solutions like the minimum wage, it is too lateto actually fix the problem, so in most cases it has effects that we cannotforesee as it is a reaction instead of a prevention method. Minimum wageactually helps very few people. The only ones that benefit from minimum wage arethose unskilled workers who are currently employed. Minimum wage restrictsem ployment opportunities for the young, unexperienced, and those people witheducational disadvantages. They result continue to find themselves handicapped inthe job market as long as the minimum wage legislation remains in affect. Insociety today the demand for "unskilled" workers is low and the put up is high,therefore there is a surplus of unskilled workers in the job market. The effectof a surplus drives down an individuals reservation wage, as they are willing todo and understand anything for work. Minimum wage only makes this fact more severe, asit increases the supply of workers.Minimum wage increases the cost of doing business, and unfortunately in todayseconomic conditions employers are not able to pass on the extra costs to theconsumer. Minimum wage is not helping workers, it is hurting businesses, and tomaintain any profit, and follow legislation companies have to cut labour costssomehow. Companies are being forced to take other alternatives because of higherlabou r costs for unskilled workers. Businesses are forced to                    1. Cut back current employees hours                    2. Not hire any more employees          &n... ... should be rated and fluctuated by these categories.Unfortunately minimum wage disregards all of this. Regardless of your education,skills, effort, you can still receive minimum wage. Minimum wage is a fixeddollar amount that is paid for many jobs that can not even be compared. Most ofthese jobs should have different pay rates, especially when the degree of skillis higher, but they dont.The government keeps increasing minimum wage, and making it tougher onbusinesses and at the same time discouraging unskilled workers from betteringthemselves, and for what. The economy is not booming, and even with increasingmi nimum wage rates the economy is not seeing any extra money being put back intocirculation. As well, the higher minimum wage rate keeps raising the level ofunemployment. I feel that if we put the burden on the people of Ontario to beand do the best they can that we would not fate minimum wage. The skills that wecould produce would be widely demanded, so it would be to the benefit of manyother unskilled minimum wage earners to support the abolishment of minimum wagelegislation. You could receive better wages, and at the same time decrease theunemployment rate.