Response to the following essay question and respond in 2-3 paragraphs. Points w

Question

Response to the following essay question and respond in 2-3 paragraphs. Points will be allocated as follows: 7.5 points for accuracy; 7.5 points for depth; 5 points for professional writing.

Option 1: Congress recently debated raising the federal minimum wage. Do some research on the facts surrounding this debate, and write 2-3 paragraphs on whether you believe federal minimum wage should be increased, taking into account the role of employment law in our country both at the federal and state level.

Explanation / Answer

Increase in federal minimum wages has been a issue of concern over a long period of time.

The most significant concern regarding the impact of increasing mimimum wages is regarding the employment rates. It is generally considered that increase in minimum wages will have a negative impact on employment rates. This is due to the fact that the employer may not find the employee skills matching the minimum wage paid to the employees. Earlier empirical evidence on this issue has proven that there is no strong evidence to prove that increase in minimum wages will reduce employement levels. On the contrary, many studies in USA have concluded that increasing minimum wages have resulted in higher employement rates or maintained the earlier employment rates.

It was also reported that higher minimum wages have exhibited a marginal increase in the GDP of USA's economy (Source: Congressional Budget Office Estimates, 2014). Findings from many studies have also reported an increase in employment rates with an increase in minimum wages. It was also found that increase in minimum wages will reduce the poverty rates in USA.

In light of the issues presented, above it may be concluded that the Congress may consider an increase in the federal minimum wages. This is likey to have a positive impact on the overall economic development in USA.

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