Minimumwage

Less experienced workers who want to get a job will receive minimum wages.While this will not be the only pay you’ll earn while working; it’s just something to start off with. When you join a company and as an initial hire, your salary increases the more skills and knowledge you learn from working there. Companies also reward employees who show commitment and dedication to their work. As you improve and acquire new abilities, your wage increases. This can be due to promotions, bonuses, or a general wage increase. In some cases, there may even be career advancement opportunities. The minimum wage in the United States began in 1938 to level out the economy and give work to citizens after the severe depression. Since then, the minimum wage has been adjusted throughout the years to keep up with the inflation rate and the cost of living. Currently, the federal minimum wage in the United States is $7.25 per hour. The federal minimum wage increased to $7.25 per hour in 2009. This was the final step of a three-step increase passed in 2007 when the minimum wage was only $5.15. In this last step, about 4.5 million workers received a raise, providing an additional $1.6 billion annually in increased wages. For instance, the minimum wage increase in 2009 meant that a full-time worker working 40 hours a week, 52 weeks a year would see their annual salary increase from $10,712 to $14,500. However, inflation has taken a toll on Americans living in 2023. The price of groceries, rent, and gas has increased tremendously. This has put a strain on many households, especially those living paycheck-to-paycheck. As such, many Americans are struggling to make ends meet. This has forced employers to look for creative solutions to keep their employees afloat. And as for people working part-time and working minimum wage, it can be scary and frustrating trying to make ends meet. As a student who recently graduated high school, it is off-putting to see what type of job there will be and the wages they would provide once I graduate from college. Therefore, it is important for employers to consider the needs of their employees and provide adequate wages and benefits. Additionally, for those entering the job market, it is important to consider the job market and conduct research to ensure that one is adequately compensated for their labor. But what would be the overall efficient solution to a minimum wage increase? Ever since the minimum wage was introduced, it has increased over time. Can we expect an end to this increase?