minimum wage

[tommysize1]

wiki:
Arguments in favor of Minimum Wage LawsSupporters of the minimum wage claim it has these effects:Increases the standard of living for the poorest and most vulnerable class in society and raises average.[1]Motivates and encourages employees to work harder[32]Stimulates consumption, by putting more money in the hands of low-income people who spend their entire paychecks.[1]Increases the work ethic of those who earn very little, as employers demand more return from the higher cost of hiring these employees.[1]Decreases the cost of government social welfare programs by increasing incomes for the lowest-paid.[1]Encourages people to join the workforce rather than pursuing money through illegal means, e.g., selling illegal drugs [33][34]Encourages efficiency and automation of industry.[35]

Arguments against Minimum Wage LawsOpponents of the minimum wage claim it has these effects:As a labor market analogue of political-economic protectionism, it excludes low cost competitors from labor markets, hampers firms in reducing wage costs during trade downturns, generates various industrial-economic inefficiencies as well as unemployment, poverty, and price rises, and generally dysfunctions.[36][clarification needed]Hurts small business more than large business.[37]Reduces quantity demanded of workers, either through a reduction in the number of hours worked by individuals, or through a reduction in the number of jobs.[38][39]May cause price inflation as businesses try to compensate by raising the prices of the goods being sold.[40][41]Benefits some workers at the expense of the poorest and least productive.[42]Can result in the exclusion of certain groups from the labor force.[43]Is less effective than other methods (e.g. the Earned Income Tax Credit) at reducing poverty, and is more damaging to businesses

Although strongly opposed by both the business community and the Conservative Party when introduced in 1999, the minimum wage introduced in the UK is no longer controversial and the Conservatives reversed their opposition in 2000.[47]A review of its effects found no discernible impact on employment levels.[48]However, prices in the minimum wage sector were found to have risen significantly faster than prices in non-minimum wage sectors, most notably in the four years following the implementation of the minimum wage.[49]Since the introduction of a national minimum wage in the UK in 1999, its effects on employment were subject to extensive research and observation by the Low Pay Commission. The Low Pay Commission found that, rather than make employees redundant, employers have reduced their rate of hiring, reduced staff hours, increased prices, and have found ways to cause current workers to be more productive (especially service companies).[50]Neither trade unions nor employer organizations contest the minimum wage, although the latter had especially done so heavily until 1999.

wow! i didnt know it took untill 1999!

the final point for pro-min wage makes me laugh.
thats how people, in certain circles, who cant be arsed to train or get a 2nd job raise their incomes!(unless you accept 2-4 hours of overtime with no bonus rates as the norm)
mostly cos minimum wage is not enough.hmmmmm

i say too many immigrants out for unskilled work live here.
or maybe education system is strung out for too long in certain subjects.
i know a guy who did a 2 year course in painting and decorating LOL