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The document discusses the implications of minimum wage policies, highlighting their role in addressing poverty and stimulating economic growth while also acknowledging potential drawbacks such as job loss and increased costs for small businesses. It compares minimum wage levels across countries and examines the relationship between wage increases and consumer spending. The conclusion emphasizes the need for careful policymaking to balance the benefits and challenges of minimum wage regulations.

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14 views2 pages

Script

The document discusses the implications of minimum wage policies, highlighting their role in addressing poverty and stimulating economic growth while also acknowledging potential drawbacks such as job loss and increased costs for small businesses. It compares minimum wage levels across countries and examines the relationship between wage increases and consumer spending. The conclusion emphasizes the need for careful policymaking to balance the benefits and challenges of minimum wage regulations.

Uploaded by

arafatkhandakarrahat
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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I’ll be diving into a topic that directly affects millions of workers which is Minimum

Wages.
Whether you support it or question its outcomes, minimum wage policies are
central to debates on fairness, economics, and the future of work.

Do you know what is minimum wages?


the minimum wage is the lowest amount an employer can legally pay their
employees for ordinary hours of work.

"Imagine working full time but still not earning enough to cover rent, food, and
bills. Sounds unfair, right?"
"This is where minimum wage comes into play. This chart compares minimum
wages with the poverty line across countries like the US, UK, and Australia.
As you can see, countries like Australia and the UK maintain minimum wages
above the poverty line — which helps reduce poverty and support low-income
earners.
In contrast, the US federal wage falls short, keeping many workers below a livable
income."
"So, what happens when people earn more? They spend more!"
"This graph shows how consumer spending increases in U.S. states that raised
their minimum wages compared to those that didn’t.
More money in the hands of workers means more spending at local businesses,
more economic activity, and ultimately — a healthier economy."

"But hold on — every coin has two sides."


“Critics argue that raising the minimum wage can hurt small businesses.
Higher wages mean higher labor costs, which could force employers to cut jobs or
reduce hours — especially in industries with thin profit margins.
This creates challenges for youth and unskilled workers trying to enter the job
market."

"Let’s take a closer look at how this plays out over time."
"This chart shows unemployment rates in states before and after minimum wage
hikes.
While the intention is good, the after-effects sometimes include a noticeable rise
in unemployment — especially in sectors like retail and hospitality.
It's important to ask: Are we creating opportunities or limiting them?"
"So, should we raise the minimum wage or not?"
"As we’ve seen, there are strong arguments on both sides.
On one hand, minimum wages fight poverty and fuel economic growth.
On the other, they can strain businesses and lead to job loss or automation.
The real challenge is not whether we should have minimum wages — but how we
implement them responsibly."
Therefore, it is important for policymakers to carefully consider the economic
context, regional differences, and industry capacity when designing wage
regulations. A balanced and well-informed approach is essential to ensure that
minimum wage laws achieve their goals without harming the very people they
aim to protect.

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