Let’s raise the federal minimum wage

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Your name Professor’s name Course name Date of submission Let’s Raise the Minimum Wage President Franklin Roosevelt, in 1933, introduced the minimum wage. After being set as $0.25 an hour, it was increased to $7.25 an hour in 2009. There has, however, been a controversy about the federal minimum wage, reiterating that it is too low. There are prevalent difficulties in attempting to raise the minimum wage as some businesses fail to increase their workers’ compensation and salaries. Nonetheless, it is important to consider raising the wage so as to create employment opportunities and lead to economic progress in the nation. As mentioned earlier, raising the minimum wage delineates positive change during the exploration of a nation’s economic growth. Different sources state facts about the possibility of acquiring about more jobs by increasing the federal minimum wage. In addition to impacting individuals’ financial statuses, alleviating the federal minimum wage also impacts the economic progress of various businesses and nations, as a whole. There are real-life examples ascertaining the relationship between an increased federal minimum wage and growth in employment opportunities (Abbott 59). Businesses and organizations should, therefore, strive to raise their employees’ wage in an attempt to achieve overall economic growth. As elevating the minimum wage may also reduce employment opportunities, this approach focuses more on ensuring financial growth due to its increased returns. Increasing the minimum wage is also directly related to an employee’s productivity. When they are offered more compensation, it is inevitable for these individuals to

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