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The Market for Labor

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Q The debate over raising the minimum wage is a hot topic. Read or listen to the stories from NPR below. Describe and discuss any new information you learned while listening. Did any of the information discussed surprise you? • Life Below $15 An Hour: Workers On The Potential Federal Minimum Wage HikeLinks to an external site. (Host Audrie Cornish) • How A Federal Minimum Wage Hike Would Affect Small BusinessesLinks to an external site. (Host Audrie Cornish) Discussion Expectations Your discussion post should fully answer the prompt above (due 11:59 p.m. CST Wednesday). Then respond to at least two of your classmates' posts by 11:59 p.m. CST Sunday. Visit the Start Here module page Discussion Criteria to view specific discussion requirements, examples, and the discussion rubric.

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The minimum wage is the lower hourly pay rate which is set by the governments. In 2005 the federal minimum wage was $5.15 per hour ("NPR Cookie Consent and Choices", 2022) – It means the employers should pay their employees at least $5.15 per hour and the employees must receive a minimum $5.15 wage per hour. I agree with the point that due to the pandemic the minimum wage rate falls. I am happy to know that the minimum wage increase to $15 an hour by 2026.