Intro- The unemployment effect of the minimum wage is one of the most interesting matters in economic, because it would be nice to think that a higher minimum wage had very positive macroeconomic effects on unemployment workers. In this essay I will be talking about the impact of minimum wage on employment and is it possible for a minimum wage to reduce unemployment rates. Also, this essay reviews the results of a more technical paper on the unemployment effects of a minimum wage. By meaning, a wage level is the lowest wage that any employer may pay or that any worker may receive from company.
Unemployment effects
Firstly, most unemployment’s get effect by the tax, because less people are working in UK, and there is smaller amount people earning …show more content…
It makes a lot of difference to unexperienced workers earning and this opportunity could help workers to earn enough in these expensively days to pay their bills. For instance, if the minimum wage didn’t raise up, the life would be difficult for unemployment worker or for those workers who do like zero hours contract and this could have a very negative impact on unemployment daily basis who won’t be able to earn enough to run their family and pay their bills. Addition to this, the impact of the minimum wage can be seen now if we compare the earning distribution in few past years and now. The 2017 distribution has had its lower tail cut off compared with the past years, and there is also an attentiveness of workers at the minimum. Moreover, over the years the minimum wage would affect increased unemployment has not become visible, even though since the start of the recent economic crisis employers have expressed some concerns that employment may be affected in low paid …show more content…
For this concern labour must have think about more jobs for unemployment workers with high wage because if they don’t find a way for this situation, this could have a very bad impact on economic of this country and will also have impact on unemployment life as well. I have also discussed about the rate of unemployment in past several years, there were 717,000 unemployed 10,000 less than for August to October 2016 and 50,000 smaller quantity than for year earlier. The unemployment rate was 4.7%, down from 5.1% for year earlier. It has not been lower since July to September
Unemployment effects
Firstly, most unemployment’s get effect by the tax, because less people are working in UK, and there is smaller amount people earning …show more content…
It makes a lot of difference to unexperienced workers earning and this opportunity could help workers to earn enough in these expensively days to pay their bills. For instance, if the minimum wage didn’t raise up, the life would be difficult for unemployment worker or for those workers who do like zero hours contract and this could have a very negative impact on unemployment daily basis who won’t be able to earn enough to run their family and pay their bills. Addition to this, the impact of the minimum wage can be seen now if we compare the earning distribution in few past years and now. The 2017 distribution has had its lower tail cut off compared with the past years, and there is also an attentiveness of workers at the minimum. Moreover, over the years the minimum wage would affect increased unemployment has not become visible, even though since the start of the recent economic crisis employers have expressed some concerns that employment may be affected in low paid …show more content…
For this concern labour must have think about more jobs for unemployment workers with high wage because if they don’t find a way for this situation, this could have a very bad impact on economic of this country and will also have impact on unemployment life as well. I have also discussed about the rate of unemployment in past several years, there were 717,000 unemployed 10,000 less than for August to October 2016 and 50,000 smaller quantity than for year earlier. The unemployment rate was 4.7%, down from 5.1% for year earlier. It has not been lower since July to September