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Minimum Wage and Employees Behavior - Essay Example

Summary

The essay "Minimum Wage and Employees Behavior" focuses on the critical analysis of the major issues in the effects of minimum wage on employees' behavior. The authors obtained the data for this study from 410 fast-food restaurants that are based in New Jersey and Pennsylvania…

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Subject: Macro & Microeconomics
Type: Essay
Level: Undergraduate
Pages: 1 (250 words)
Downloads: 2
Author: cheyenne26

Extract of sample "Minimum Wage and Employees Behavior"

The study found that an 18 percent increase in the New Jersey minimum wage was predicted to reduce employment at fast food outlets by 0.4-1.0 employees per store (David and Alan, 1994). Secondly, the study revealed that even in local areas, employment rose faster at the stores that increased wages due to the minimum wage. Thirdly, the paper found that relative price changes played a role within the fast food industry as a result of raising the minimum wage.

One of the aspects that make this study have a counter-intuitive result is that when the minimum wage is raised, low-skill workers retain their jobs. Additionally, it is one of the ways of attaining a minimal standard of living.

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