...Smith, Advertising Department Supervisor From : Jason Vu, Advertising Associate Date : March 24, 2010 Re : New Approach for Extra Income As a consequence of the recent increase in minimum wages, there is an increase in the discretionary income of our current advertising base. People with more money tend to spend more. Our current advertising approach does not take this into consideration. This is a proposal to modify the approach in our advertising strategy so that we can take advantage of the coming shift in our advertising base and enhance our advertising revenue by expanding our potential client base. The rationale behind the proposal and its implementation will be elaborated in the following report. When people have achieved basic survival needs such as food, shelter, and relatively secured physical and financial safety, they seek to attain things that they haven’t yet possess, such as status symbols or a sense of belonging to an exclusive group. If we can encourage our existing advertisement consumers to spend their extra income, hence shift the demand of our current advertising base to consume more upscale products, then we stand to gain an expanded and more profitable set of ads buyers. This project is a market study in potential new products in which ads targeted for the new minimum wage consumers segment can be created. This project will determine the current advertising consumers’ income. The result of this project will be used in devising a strategy to create and...
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...Issue 4, pp. 258-269. The issue of the minimum wage permitted by law increments has been disputable since the initiation of the base wage law in 1938. The minimum wage permitted by law, which incorporates tyke work laws, was established to shield American specialists from exploitation and poverty during tough economic times (Schuldt, Robert; Woodall, Davis; Block, Walter E., (2012). Despite the fact that the law achieved what it was planned to at the time, increments in the minimum wage permitted by law through the years have delivered higher unemployment rates and higher destitution levels. As the minimum wage permitted by law expands, managers are compelled to dispense with representatives who are not living up to expectations up to the current the minimum wage permitted by law level and contract better-gifted individuals who are justified regardless of the wages they are paid. Expanding the minimum wage permitted by law causes an increment in unemployment among specific populaces for this very reason. Totally dispensing with the minimum wage permitted by law is not the answer for the issue, however in the event that the minimum wage permitted by law stays at its current level for a couple of more years, it may rouse the minimum wage permitted by law workers to accomplish more to ensure their own budgetary future. The civil argument over raising the minimum wage permitted by law has been a hotly debated issue after President...
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...qwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmrtyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmrtyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmrtyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmrtyuiopasdfghjklzxcvbnmqwer...
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...arguments for and against raising the minimum wage are almost unavoidable in the labor market, with each side having individually strong points. Advocates say that anyone who works 40 hours a week or more deserves to earn a decent living wage and get out of poverty, while opponents argue that high wages cost jobs. Most of the arguments for increasing the minimum wage are more emotional pleas and theories with very little evidence for achieving the desired outcome. The truth is that raising the minimum wage does not lead people to get out of poverty, but what it does is make it more difficult for younger workers to find entry-level jobs to build their skills. By raising the minimum wage, experts argue that it will make it more difficult for younger workers entering the workforce to get a job. Employers will be hiring workers with more experience and skills, since they can attract these workers with higher wages. Therefore, raising the minimum wage may be causing more harm to a younger workforce looking to find their first job to gain relevant work experience. Our country needs to focus on the inconvenient truths about the real impact around raising the minimum wage. Some of these inconvenient truths are highlighted by the research that clearly shows how raising the minimum wage may cause more harm than good, and have significant consequences to the younger and entry-level workers vs. the emotional theories that state increasing the minimum wage will get more people out of poverty...
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...Paper Coy, Peter. “How Much Am I Worth? - The Case for a $10.10 Minimum Wage.” Bloomberg Businessweek. Feb 2014: 10-13. Print. The Cost-Of-Living in Hawaii and New York are among the highest. Yet, in both states the minimum wage is set at $7.25. In his January 2014 State of the Union address, President Obama requested to raise a new federal minimum wage of $10.10 an hour. This movement has progressed within the past couple of weeks since its publication in February 2014. In the following pages, I will attempt to update and fill in the gaps where the article has left off. How would you like a 40% increase in your payroll? I bet that sounds like a great idea! How about if you and your fellow coworker’s all received a 40% raise? Even better right? Now, what if that 40% increase went through with the entire nation? Although raising the minimum wage would not increase everyone’s wage, this is where the controversy starts. Set in 1938, the Fair Labor Standards Act, or FLSA, is the fundamental compensation law in the United States. It is the federal law that establishes a minimum wage and limits the number of hours that may be worked in a standard week. It defines two categories of employees, the exempt employees and the non-exempt employees. The exempt employees are not allowed over-time pay, and non-exempt employees who are allowed overtime. The non-exempt employees are highly effected through this issue of raising minimum wage. Non-exempt employees are given the benefit of overtime...
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...Increasing the Minimum Wage Jacqueline S. Nock May 19, 2014 Abstract The issue of minimum wage increases has been controversial since the inception of the minimum- wage law in 1938. The minimum-wage law, which includes child labor laws, was put into place to protect American workers from exploitation and poverty during tough economic times (Schuldt, Robert; Woodall, Davis; Block, Walter E., (2012), par.4). Although the law accomplished what it was intended to at the time, increases in the minimum wage over the years have produced higher unemployment rates and higher poverty levels. As the minimum wage increases, employers are forced to eliminate employees who are not working up to the current minimum wage level and hire better-skilled people who are worth the wages they are paid. Increasing the minimum wage causes an increase in unemployment among certain populations for this very reason. Completely eliminating the minimum-wage law is not the solution to the problem, but if the minimum wage remains at its current level for a few more years, it might motivate minimum wage earners to do more to protect their own financial future. The History of Minimum-Wage Law President Franklin D. Roosevelt signed the federal minimum-wage law into effect in 1938. It was part of a larger bill called the Fair Labor Standards Act. The minimum-wage law was created to protect workers from not being paid a fair wage for the work they perform. It guaranteed workers a fair wage, ensured safe working...
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...Minimum wage has always been a controversial topic ever since the Fair Labor Standards Act took effect back in 1938. The goal Congress was trying to impose with the Fair Labor Law was to keep families out of poverty and to protect non-unionized workers in unskilled jobs. This law has failed us, being that the cost of living (rent, food, gas, taxes, utilities, healthcare, and transportation) continues to rise and the minimum wage stays at a plateau, resulting in parents not being able to provide all the necessities for their families. The United States should increase the minimum wage because the low wages are the cause for deteriorating health in American society; and the current minimum wage has more than 45 million people living below the poverty line. Raising the minimum wage would not only lift families out of poverty, but can also improve health outcome by increasing financial access to resources and opportunities. Americans living on minimum wage are more likely to experience adverse health outcomes, including higher rates of chronic illness and disability and lower life expectancies, because wages affect a person’s ability to access healthy foods. Low-wage workers are less likely to get decent health care because they cannot afford it. Low wages can cause stress because they may not know how they will pay rent...
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...the minimum wage, the time is now,” said Delegate Derek E. Davis, of Price George’s County. The increase in minimum wages has been a topic that has been on the rise with much controversy involved. President Obama wants state and lawmakers to increase the minimum wage from $7.25 to $10.10 per hour by 2018. Connecticut was the first state to pass the law, which will increase their minimum wage to $10.10 by January 1, 2017. Maryland is a year and half behind them, making the minimum wage $10.10 by July 1, 2018. The reason for Maryland’s delay is because they want to give businesses more time to adjust to the new and increasing price. The increases will be in steps. The first increase will be from now until July 2018, and will increase to $8 per hour on January 1, 2015. The second increase will be to $8.75 per hour in July 2016. The third increase will be to $9.25 in July 2017, and then the final increase to $10.10 in 2018. The graph below, from the congressional budget office website, shows the increases of wages over the time period. President Obama commended Martin O’Malley and other lawmakers for “leading by example” in hopes that congress will follow. However, some counties have been setting their minimum wages even higher than $10.10. Montgomery and Prince George’s counties have approved their minimum wage increase to $11.50 by 2017. However, businesses are going to be allowed to pay a lower training wage to workers under 20 years old. However, this increase in wages has...
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...22/06/15 The Effect of a Raise in the Minimum Wage on Employment and Profitabilty in the RMG Sector of Bangladesh, Drawing Sources From Other Developing Countries The study of minimum wages has led to many debates surrounding the topic whether a raise in minimum wage can kill businesses in profitability and employment or the change in profitability and employment is insignificant. This is a hot topic for policy makers in both developed and developing countries as a raise in minimum wage affects the economy in terms of economic growth, standards of living for the poor, survival of businesses and employment. A lot of research and literature has shown that a hike in minimum wages do not particularly affect the developed nations but the same hikes in developing countries can cause damage to firms depending on the size of the firms and their profitability. This paper attempts to show that the garments sector in Bangladesh (Ready made Garments Industry) faces the same dilemma. Since the Savar tragedy in late 2013 where a garment factory, Rana Plaza, collapsed which killed more than 1,100 people and injured and more than 2,500 people injured, garment workers and civil society demanded a raise of minimum wage from 3000 tk to 5,300 tk every month. This tragedy and similar events in developing countries lead us to think how businesses especially in the developing countries where wage rates and productivity are low can operate if minimum wage is suddenly increased threefold and why...
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...Minimum Wage: The Effects of Minimum Wage on the Economy and Poverty Level in relation to Living Expenses Alison Denne Central Virginia Community College Minimum wage started with the “New Deal” program. In 1933, Roosevelt’s advisers decided to develop a National Industrial Recovery Act (NRA) to “suspend antitrust laws so that industries could enforce fair-trade codes resulting in less competition and higher wages” (Grossman, 1978). In his President’s Reemployment Agreement, Roosevelt accepted “to raise wages, create employment, and thus restore business” (Grossman, 1978). This began the arrangement of the government creating a policy for the working class. In order to offset the “overwork, underpay” regulations in the US economy,...
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...indefinitely on a job that pays $7.25 an hour? That is the national minimum wage set by the Fair Labor Standards Act in 2009. Projecting this to a 40-hour work week over 50 weeks it comes to a total of $14,500 a year. This is just above the U.S poverty level for a family of 2, but below the poverty level of $22,050 for a family of 4. Despite the fact that the minimum wage has been increased 3 times since 2007, it is almost $3.00 below what it was nearly forty years ago in purchasing power. It has not kept up with inflation. If it had, the minimum wage would be $10.74 per hour. In other words, the minimum wage is a far cry from being a living wage which is a wage that is high enough for fulltime workers to provide a decent life for themselves and their families. For the benefit of American citizens and the economy, the minimum wage must be increased! Those opposed to an increase in the minimum wage focus on a number of assumptions suggesting it would be a bad idea. Under close examination, all of their arguments fall apart. One of the main arguments for not raising the minimum wage is that it is a job killer. The reasoning is the increase in salary decreases profits and results in cutbacks in hiring. However, a study at the University of California, Berkeley, has shown that raising the minimum wage does not have a negative effect on employment. An analysis of those states that independently increased the minimum wage “had job growth slightly above the national average.” Another...
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...Overview of the Federal Minimum Wage The Fair Labor Standards Act (FLSA), a law that guarantees employees and youth a fair minimum wage and overtime pay. It is regulated by the Wage and Hour Division (WHD) of the U.S. Department of Labor (DOL); it mandates employers to pay all nonexempt employees a federal minimum wage no less than the determine amount set by the government (U.S. DOL, 2011). Unfortunately, the federal minimum wage still sits at $7.25 per hour and has remained the same since George W. Bush signed a law to change it on July 24, 2009 (Risher, 2013; U.S. DOL, 2011). So, why did so many government officials decline the increase of the federal minimum wage and why do they fear the positive impact that the increase will have on America? This paper intends to briefly discuss six laws, all pertaining to federal minimum wage introduced to the House of Representatives within a year and highlight one member of the senate who disapproved the law for passing. In addition, this paper will briefly point out statements made about why some Senators chose to decline the bill; and finally, this paper intends to briefly explain any legal issues preventing the wage increase and implications for management. Start of Hope: Minimum Wage Fairness United States senators and representatives have introduced numerous federal minimum wage bills to the House of Representatives in order to amend the Fair Labor Standards Act (FLSA) during their term. These bills were designed to either...
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...work hard should be able to make a living. Working full-time in a minimum wage job pays $7.25 per hour. That's just $15,000 a year for full-time work. It's not enough to live on. A breadwinner for a family of four earning the minimum wage would be a full $7,000 below the federal poverty line. It is my opinion that minimum wages should at least cover the cost of living. There is such a large disparity in the way salaries are created. Some corporations’ continue to give their CEOs annual large raises and bonuses but claim they cannot afford to pay some of their employees enough to raise their standard of living above the poverty level. As of 1 January 2013 the following is a breakdown on the information about the minimum wages: § 23 states and VI have minimum wages the same as the federal minimum wage of $7.25. § 18 states and D.C. have minimum wages above the federal minimum wage. § 4 states and PR have minimum wages below the federal minimum wage (the federal minimum thus applies). § 5 states have not established a s state minimum wage. The lowest minimum wage is $5.15 and the highest minimum wage is $9.19. Louisiana, Mississippi, Alabama, South Carolina, and Tennessee do not have minimum wage laws. This does not mean they do not have minimum wages because there is a federal minimum wage that these states must still enforce. States can only choose to have higher minimum wages than the federal law or have no specific law at all and enforce the...
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...the national federal minimum wage from 7.25 percent to 10.10 percent to fill the gap of income inequality. Obama wants to give America a raise. He said, “That too many Americans are working just to get by. Some are not working at all.” He wants to speed economic growth by putting more money into the pockets of the low-income families. He wants to help them get out of poverty by raising the federal minimum wage and pegging it to inflation. The President believes that this solution will help big businesses in the long run by decreasing employee training cost and cutting back on high turnovers. In contrary, Obama will hurt the people he is trying to help. “This proposal will only harm the people the President wants to help, especially teens, who have already endured more than four years of 20+percent unemployment,” Saltman said. “If the President wants to boost the economy and have an impact on the country’s unemployment rate, he needs to lower barriers to hiring, not raise them.” The minimum wage class is mostly made up of teenagers and young adults. These people are usually people with low skills and have little or no experience. Some of them are first time job seekers just starting out in the work force. Most of us at some point in our lives have started out working a minimum wage job. Why? We need the minimum wage jobs to help us gain the experience we need to climb the success ladder for a higher paying job. They are stepping stone jobs. Minimum wage jobs were not intended...
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...factors. E.g… wage settlements. Labour market situation. Company’s nature and size. etc. Pay structure consists of certain grades. Scale and range of pay in each scale. Each scale has aminimun and a maximum limit. Jobs places within a particular grade carry the same value though the actual pay in a grade depends upon length of service and or performance of the employee. Pay structure in India generally consists of the following components. 1- Basic wage/salary 2-Dearness allowance (D.A.) and other allowances. 3- Bonus and other incentives. 4- fringe benefits or perquisites. Hard variables • Salary • Augmented pay- overtime, extra pay, one time stuff • Indirect pay –things needed for work, uniform allowance, etc. • Parks pay – discount on company’s products, etc. Soft variables • Opportunity for advancement • Opportunity for growth • Psychic income – doing personally meaningful work • Quality of life – workplace flexibility, work-life balance • The X-factor- special individual variables like bringing a dog to work. 1. Basic Wage The basic wage provides the foundation of pay pocket. It is a price for services renderd. It varies according to mental and physical requirements of the job as measured through job evaluation. In India, basic wage has been influences by statutory minimum wage, wage settlements, and awards of wage boards tribunals pay commissions, etc. (a) Minimum wage- Minimum wage is that wage which is sufficient...
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