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The advantages of a minimum wage is that from an employers perspective it tells workers of the level of training and productivity that is needed. For workers it provides protection from poverty (China anybody). However, if it is raised to high, it cause high unemployment and inflation's the costs of goods are too much to make. Added to the global economy, where busniesses would just shift (opps they are anyway) to where there is cheaper labour. On the other hand if the minimum wage is set too low, workers end up in poverty and cannot afford to consume products which would also see businesses go under and unemployment rises.
The other side of getting rid of the minimin wage is the free market. Once again though I refer to the sweat shops in China where although there is a rise in a middle class 700 million people still live below the poverty line. Thus setting the minimum wage is a balancing act. There is more I can say but I don't want to go on
I also would add one argument is that there is in international minimin wage which could also be used as a tool to lower third world poverty, Maybe?
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What is 30 percent off minimum wages?
30% off of minimum wages = 30% discount applied to the minimum wages = minimum wages - (30% * minimum wages)
Is HRA included in minimum wages?
No, it is not mandatory. It may or may not be included in minimum wages
Minimum wages are applicable for private security services?
what is the minimum wages are india for private security agency
What is the difference between minimum living and fair wages and how it can be fixed under the minimum wages act 1948?
Ye
Minimum Wages in India different state?
the minimum wages for india it is ind 7,000 (~us $92.30) per year
Who was first to propose minimum wages and health insurance?
the first to propose minimum wages and health insurance was the third party
What are the Forms of wages?
Wages have been classified into three different categories. The categories are living wages, minimum wages, and fair wages. Living wages are often defined as the wages needed in order to provide the necessities in order to live; such as food, clothing, and housing. Minimum wage is determined by the government, and are the lowest wages one can legally earn. Fair wage is the mean between the living wage and the minimum wage.
What is difference between payment of wages act and minimum wages act?
The difference between the Payment of Wages Act and the Minimum Wages Act is in what these acts enforce. The Payment of Wages Act ensures when payments should be made, how they should be made, and limits deductions. The Minimum Wages Act ensures that workers in certain industries are paid at least a certain predetermined amount.
What is the minimum wages for waitress in NYC?
8.00 hr is Fed. minimum.
How does a minimum wage hike affect union wages and benefits?
For the most part it does not. Most unions have wages above minimum wage. Depending on members wages, the type of job each member has, and the amount of the minimum wage increase, it may make it easier for a union to push for higher wages.
What is your expected wages?
A minimum wage ofr salary or over the minimum wage.
What has the author Finis Welch written?
Finis Welch has written: 'Minimum wages legislation in the United States' -- subject(s): Wages, Minimum wage
