The federal minimum wage for covered nonexempt employees is $725 per hour effective july 24, 2009 the federal minimum wage provisions are contained in the fair labor standards act (flsa) many states also have minimum wage laws in cases where an employee is subject to both the state and federal minimum wage laws, the employee is entitled to the higher of the two minimum wages. The last time the minimum wage was federally increased in the united states was 2009 since the minimum wage is not indexed to inflation , it does not systematically increase in proportion to changes in the costs of living. Researchers who studied crime rates and the minimum wage in new york city over a 25-year period found that [i]ncreases in the real minimum wage are found to significantly reduce robberies and murders a 10 percent increase in the real minimum wage results in a 63 to 69 percent decrease in murders and a 34 to 37 percent decrease in robberies.
I am taking the position that the minimum wage of $725 an hour should not exist in the united states, and that any attempt to set a minimum wage by law is economically harmful burden of proof is on both opponents to prove that the existing minimum wage laws are beneficial/detrimental.
In interpreting this estimate, note that a 10% increase in the minimum wage does not raise the average wage of teenagers by 10%” there are myriad opinions about raising the minimum wage, differing from person to person, company to company, and state to state. That doesn't excuse though the truly terrible arguments being trotted out in favor of that $15 an hour minimum wage here i'm not talking about those who've drunk the ideological kool-aid, or the politicians--to the extent that those two groups differ.
Stated under how minimum wage increased unemployment and reduced job creation in 2013(3), it states: this paper uses recent data to analyze the impact of raising the minimum wage on employment among the 50 states. The minimum wage debate is heating up and features supporters on both sides of the issue let's take a look at the pros and cons of raising the minimum wage common arguments in favor of increasing the minimum wage connecticut was the first state to respond to president obama’s call for states to raise minimum pay in march.
In the united states, the minimum wage promulgated by the fair labor standards act of 1938 according to the economic policy institute, the minimum wage in the united states would have been $1828 in 2013 if the minimum wage had kept pace with labor productivity. In the united states, the minimum wage is still 31 percent lower than the average hourly wage of a non-supervisory worker when you adjust minimum wage for inflation, the real value of today's rate is the lowest it's been since 1952 [source: economic policy institute .
Should we raise the minimum wage raising the minimum wage has been a key initiative for the obama administration obama wants to raise the national minimum wage from $725 to $1010 per hour.