What are some pros and cons of having a minimum wage?

  1. InfoFinder profile image72
    InfoFinderposted 6 years ago

    What are some pros and cons of having a minimum wage?

  2. Catzgendron profile image72
    Catzgendronposted 6 years ago

    The cons would be for the employer because they must pay their employee the minimum wage and can't pay any less.

    The pro is that the employee will know up front what the minimum wage is and know that the employer can't pay any less.

    The minimum wage protects the younger generation from being taken advantage of when applying for jobs.

  3. kapeedranos profile image41
    kapeedranosposted 6 years ago

    pros ad cons are different for the two parties
    for employers..pros are
    1)lesser  cost of production
    2)higher profit
    3)greater market share with less price because of less cost
    4)better command over its employee because minimum wage employee are individually weak in protesting their employee
    5)employer can asses about their expenditure on employee
    and the cons are
    1)fails to attract quality employee
    2)fears of trade unionism
    3)quick mobility of employee to other better avenues
    so far pros of employee is concerned they will get a guarantee income which will not fall below that minimum level
    there are lots of corn
    1)poverty life
    2)there will be class division
    3)there will be political instability