{"id":879,"date":"2021-01-04T06:26:45","date_gmt":"2021-01-04T06:26:45","guid":{"rendered":"https:\/\/www.razoredgeresumes.com\/jobsearch_blog\/?p=879"},"modified":"2021-01-04T06:36:18","modified_gmt":"2021-01-04T06:36:18","slug":"pros-and-cons-of-increasing-the-minimum-wage","status":"publish","type":"post","link":"https:\/\/razoredgeresumes.com\/jobsearch_blog\/pros-and-cons-of-increasing-the-minimum-wage\/","title":{"rendered":"Pros and Cons of Increasing the Minimum Wage"},"content":{"rendered":"

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Why The Minimum Wage Should be Increased<\/span><\/p>\n

Increasing the minimum wage has been a hot-button issue for years. While many argue that the minimum wage needs to be increased to fit the growing expenses caused by inflation, others argue that increasing the minimum wage will cause too many other things to increase in price.<\/p>\n

The question is, \u201cWho is right?\u201d and \u201cWhat Should Happen?\u201d Although there may not be a straightforward answer, you can make your own decision once you are completely in the know.<\/p>\n

Pro: Standard of Living Will Increase<\/span><\/p>\n

The reality is that there has been a major increase in the cost of living while the minimum wage has remained at a constant. To say that the country is due for an increase in minimum wage is an understatement.<\/p>\n

Increasing the minimum wage would lift hundreds of thousands of Americans above the poverty line and take them to a new level.<\/p>\n

Con: Inflation Would be Inevitable<\/span><\/p>\n

\u00a0If minimum wage goes up, some companies will have to up their prices in order to make up for their increased labor cost. As to how many companies this would affect is up for debate, but the reality remains that there are some companies that would have no choice but to increase their prices.<\/p>\n