Discussion november 4th | Business & Finance homework help
I do not believe that raising the minimum wage is an effective solution to addressing poverty in our society. Such a move would likely lead to higher costs of goods and services, which could put additional strain on low-income households who are already struggling to make ends meet. Furthermore, it could also have a negative impact on businesses who may need to raise prices or reduce staff in order to remain profitable; this could result in job losses rather than employment opportunities for those at the lower end of the income scale. Additionally, there is evidence suggesting that higher wages can encourage employers to seek more productive workers with better skillsets; this means people with less experience or fewer qualifications may find it even harder to get hired. Ultimately, I think governments should be focusing their efforts on policies that help create stable jobs across various sectors while also providing support networks for those who are currently unemployed/underemployed as opposed to relying solely on increasing the minimum wage as a solution.