Implications of Raising the Minimum Wage
Introduction Most states in the United States have already passed laws that aimed at raising the minimum wages for employees. In the 24th of July 2014, the Fair Labor Standards Act (FLSA) ratified the $7.25 federal minimum wage for employees from both public and private companies (United States Department of Labor). Though this news may seem positive to employees, debates on whether wage hikes are necessary and really helpful to both employees and employer.
A very few studies have examined the relation between the Law of Supply and Demand on the wage rates of employees. However, all of these ...
