Domino effects.
Min wage implementation will lead to this and that.
And this and that will lead to min wage implementation.
No cure or cure.
Depends on its country and its policies.
This is a relationship between an employer and employees, the right
to hire and fire for the former, and the right to work or resign
for the latter is a fair equation, employers also understand
that if they move the wage beyong competitiveness with their
competitor, they loose workers and talents, so ultimately, they set
a bit higher wages and benefits inorder to attract people to work
for them. The labour market move along the economy market, when
labour market is tight, wages goes up, if not inflation set in,
just like having a 3% inflation now is a burden to workers, they
will surely want higher paid to equalize or so call offset
inflation which is the cost of living. Employees who are look for
job or asking paid increase in a tight labour market should
therefore ask for more, but if the economy is bad, and the jobless
rate is increasing, then wages will start to go down. So, for those
looking for job now, ask for higher wages so that in bad time, your
basic is still strong.
