Arizonans have elected to increase the minimum wage twice since 2006 via ballot measures while lawmakers doubt that increasing the minimum wage positively affects workers. We conclude that a 1% increase in the minimum wage will on average produce a 1.13% increase in per capita income in Arizona. While at the same time, a 1% increase in the unemployment rate will produce a 5.1% decrease in per capita income and a 1% increase in the inflation rate will produce a 3.7% decrease in per capita income.
Over the course of many years, U.S. citizens have sat idly by and watched as the US government tries to spend its way out of an increasing portion of our nation’s problems. As our spending increases along with our national debt, we will eventually have to bring ourselves to ask the same two questions that we all ask ourselves when we find we’ve made a mistake: What went wrong and how do we fix it?
In April, 1.8 million British residents got a pay rise when the National Living Wage, the new name for the minimum wage in the United Kingdom, went up by the most ever, a whopping 4.9%. It marked 20 years since Tony Blair’s government introduced a minimum wage and the occasion was widely celebrated.
Since 2012 and the start of the Fight for $15 Movement began, minimum wage has been a hotly debated topic. Many people argue that raising the minimum wage will provide much needed income increases for millions of Americans. Others argue that minimum wage increases cause inflation and job loss.
Welfare continues to be a subject of much deliberation in politics. Understanding the effect that the level of welfare benefits has on the unemployment rate would be necessary to know how to design policy in the best manner possible.