142k views
0 votes
How much, if any, does each employee receive of the salary increase?

1 Answer

0 votes

Final answer:

Each of the 98% of minimum wage employees would receive a 10% increase in their pay. The societal impact is mixed, as 2% risk unemployment, and the outcome varies based on who loses their job, whether it's family supporters or students on vacation.

Step-by-step explanation:

The question of how much each employee receives from a salary increase involves evaluating the effects of wage changes on minimum wage workers and, by extension, on society as a whole. If 98% of those receiving the minimum wage get a pay increase of 10%, each of these employees will have a higher income, translating into more financial resources at their disposal.

This could lead them to opt for more income or leisure time. However, it's also noted that 2% of minimum wage employees might lose their jobs as a consequence of the wage increase, which brings a different set of societal implications. The overall impact on society must consider the disparities in the hardships faced by the unemployed, such as minimum wage workers supporting families compared to students earning extra money during a vacation.

User Nayeem
by
8.3k points