Speech on Minimum Wage
Ladies and gentlemen, good morning, I feel humbled today to address the issue of increment of the minimum wage. Some problems in the nation require the attention of the government and the stakeholders to ensure that an economically stable population is enhanced. The speech will discuss the issue of minimum wage in the nation that has affected a large population of the United States. Minimum wages is a national social issue that has changed the community and it the reason why the speech is essential for every individual.
It is high time that the issue of the minimum wage to be addressed, and in this perspective, I will discuss the issue of raising the minimum pay in the United States. As a leader of one of the labor unions in the nation, I feel that am in a position to address this issue and ensure that the minimum wage is increased for the benefit of both the individual workers and the country. The points that will be discussed are why the minimum wage should be raised in the country (Neumark et al., pp.1-182). Also, the speech will address the stakeholders that should be involved in ensuring that the minimum wages are increased. Some of the stakeholders that will be discussed include the government of the United States, the labor unions and the employees who are victims of the minimum wage. The other issue that will be addressed will be the steps that need to be taken by the involved parties to ensure increment of the minimum wage in the nation. The essay will conclude on the role played by the figures in the labor and the government to provide a stable country. Poverty results in instability and increment of minimum wage improve the living standards of the population. It is the role of every involved party to be involved with the growth of the nation as it will be addressed.
The minimum wage of the United States is seven point five dollars ($7.5), and the payment has not been increased since 2009. However, Raise the Wage Act wishes to increase the minimum income to fifteen dollars per hour by 2024 (Zipperer, par. 1). The minimum wage has created a poverty line since it affects workers considered to be low-class level. These workers struggle with the minimum wage which places them below the poverty line and can change the economy and the security of the nation and hence the need to address this issue of raising the minimum wage to improve the community.
The adverse effects of minimum wage require the involved parties to be involved especially the government of the nation to guarantee secured state. The economy of the country determines the political stability, and hence the role of the government is needed. The government has a purpose of ensuring that the law of raising the minimum salary is passed and that it is adhered to by the companies’ management. As mentioned earlier low minimum wage deteriorates the economy of the nation and the political stability of the country is profoundly affected. The labor unions are the ones to ensure that the workers of the nation are protected from the harassment of the employers. In this perspective, then the labor unions have a role in monitoring and ensuring that the minimum pay takes a constructive effect on the community.
The increment of the minimum pay will have benefits to the businesses, country and the community. One of the reasons why raising the minimum wage should be considered is because improves the workforce in the markets. The businesses can develop through improved workforce and hence result in the growth of the nation’s economy. The increment of the workforce benefits the individual work through enhanced living standards and therefore resulting in better results in the organization hence resulting in the improved economy (Zipperer par. 3). Based on this argument, the increasing minimum wage has effects on the lives of the individuals, the growth of the companies and the growth of the economy that builds the political status of the United States.
However, there have been suggestions that increment of minimum wage creates unemployment. The research conducted has yet not provided substantial evidence that unemployment can be as a result of increasing minimum wage. The study conducted by Doruk and others between 1979 and 2016 (Zipperer, par. 7) proved that increment of minimum wage does not result in unemployment directly and therefore it should not be used as a reason hindering the increase of the minimum wage.
Also, another reason that is presented to show that increasing the minimum wage is essential is that it allows every adult to support himself or herself if the person is single. The person also has the need that calls for the increment of the minimum wage to fifteen dollars per hour (Riley et al., 27-50). Rising of the minimum wage also allows the individuals to support the families with needs such as housing, food, healthcare, childcare family necessities and hence the increment of the federal minimum wage is necessary.
In my opinion, rising of the minimum is a critical issue, and the involved parties such as the government and the labor unions should work as a team to ensure that the implementation is not delayed. The political stability is determined by an improved economy which is enhanced by the population. The administration should use the increment of the minimum salary to motivate the community. When workers are driven, it leads to increased productivity resulting in growth and development. Thank you.
Ben Zipperer, Economic Policy Institute, “Gradually raising the minimum wage to $15 would be good for workers, good for business and good for the economy. 2019. www.epi.org/publication/minimum-wage-testimony-feb-2019/ Accessed on 15 April 2019.
Neumark, David, and William L. Wascher. "Minimum wages and employment." Foundations and Trends® in Microeconomics 3.1–2 (2007): 1-182.
Riley, Rebecca, and Chiara Rosazza Bondibene. "Raising the standard: minimum wages and firm productivity." Labour Economics 44 (2017): 27-50.
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