Time To Plan Ahead For A Minimum Wage Increase
Melody Rayl’s article “Time to Plan Ahead for a Minimum Wage Increase,” was published on Ithinkbigger.com.
President Obama announced that he was issuing an executive order to raise the minimum wage to $10.10 per hour for employees who work under new federal service contracts. At the same time, he called on Congress to raise the federal minimum wage for all workers from $7.25 to $10.10 an hour, Melody wrote.
And then lots of small business owners’ alarms started going off.
Raising the minimum wage will increase workers’ earnings, but it also will increase employers’ labor costs, according to Melody. Some pundits have warned that any bump in minimum wage levels will lead to job losses because employers, especially small business owners, will have to reduce staff to manage the higher costs.