1. http://www.latimes.com/business/la-fi-minimum-wage-20130913,0,1527959.story2.
3. Category of Problem: Financial
4. Level of Problem: State
5. Article Concerns: This concerns all those (teenagers, young adults, older generation) employed and seeking work in California. This approval is benefitting the working class, specifically all those at entry level and minimum wage paying jobs.
6. Personal View: I think it is great that California legislatures approved raising minimum wage from $8 to $10 by 2016. With housing and living being very pricey in California, I feel that this will definitely be helping out more families and students who work to support themselves. Even working a full time job at $12/hr . After class lectures/discussions concerning poverty in America and watching the Poor Kids video, this is definitely a great step in hopes of improving such conditions for those who are struggling to make ends meet in California. However, I do see how this can pose certain issues in regards to having the reverse effect on unemployment rates, increased labor costs, and cutting hours. I started working at the age of 16 when minimum wage was $5.15 (I believe) and 8 years later minimum wage in Texas has only increased $2.25 to the federal mark. I can definitely see where the concern lies with raising the minimum wage by $2 in only a matter of two years. This can cause small businesses to go out of business because of the lack of business/funds to pay all their employees. Which in turn will cause businesses to lay-off employees or significantly reduce their hours in order to be profitable enough to pay their expenses and employees. This also goes for bigger businesses as well. More harm than good can be a result of such change in a short amount of time. Great move for California, lets just hope it all works out for the best.
No comments:
Post a Comment