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Submitted by carrot on May 5, 2005
Category: Social Issues
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Increasing the minimum wage may help hard working families make ends meat. The first federal minimum wage in 1938. Started at $.25 an hour. In 1968 it reached its peak value. Since then the value has fallen thirty percent, so that today's minimum wage of $5.15 is equal to $4.18 which is equivalent to the value in 1995 (women, 4). Some states have decided to raise the minimum wage above $5.15 an hour even though the senate ultimately sets the minimum wage. There was a push to raise the minimum wage two dollars in the next two years. The average yearly income for a person who works minimum wage is around $19,000. In the United States there are over 1.6 million minimum wage workers. Fifty-three percent of minimum wage workers are high school, or college students, seventeen percent are the retired, and thirty percent being unskilled workers. Because the minimum wage is not enough for most people to live on, in 1994 local union leaders and activists have helped to pass more than 100 living wage ordinances. A living wage is designed to help low wage workers and their families to live above the poverty level
They have decided on minimum wage on different things but they are looking to increase it since minimum wage workers that make up a family of three are making $5000 below the poverty line.
There are some positive aspects to raising the minimum wage. Bernstein and Schmitt from the Economic Institute in Washington, D.C. studied the effects of raising the minimum wage in 1996-1997 from $4.25 to $5.15 found the following:
1.Nearly ten million workers or 8.9% of all people with jobs benefited from the full increase to $5.15.
2. Most of these workers were adults (71%) and females (58%).
3. Close to half (46%) up to beneficiaries work full time and another third work twenty to thirty-four hours per week.
4. The average minimum wage worker brought home more than half (54%) of his or her family's weekly earnings.
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