Essay on Economy: Creating More Jobs

917 Words 4 Pages
The economy needs to generate wages, consumption, investments, imports, exports in order to be a fully employed economy. In order to achieve that, economy needs people to work, and people need to work in order to provide for their families and themselves, but the market, or the government it’s not generating the enough jobs that people need to, bringing unemployment rates up. Statistics from the Bureau of Labor Statistics Data show that the current unemployment rate is 6.3, considered relatively low comparing it to previous years, starting from the last months of 2009 with an unemployment rate of 9.9. Although is true that the government, or the market itself has created more jobs, and less people are unemployed than previous years, the …show more content…
Those who work minimum wage jobs aren’t getting the enough money in order to be able to buy and consume the basic staff, and if they don’t consume, there is no growth in GDP. Therefore, one of the major ways to have economic growth would be given to those who live from pay check-to-pay check more money by increasing the minimum wage. Annie Lowrey, on the article Raising Minimum Wage Would Ease Income Gap but Carries Political Risks published in the New York Times, wrote:
Christine Owens, the executive director of the National Employment Law Project, said in a statement. “A higher minimum wage is key to getting the economy back on track for working people and the middle class. The president’s remarks also cement the growing consensus on the left and right that one of the best ways to get the economy going again is to put money in the pockets of people who work.”
But those in disagreement of increasing the minimum wage argue that if they were to increase it, it would increase unemployment rate, due to the fact that “minimum-wage hikes cause businesses to reduce the number of workers they hire and the hours they ask their employees to work.” But the reality is that the majority of the increments proposed aren’t so big that it would leave the employers with no option other than to fire workers because

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