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New York State States have the right to mandate a minimum wage that is higher than...

New York State States have the right to mandate a minimum wage that is higher than the federal minimum wage. Consider your own home state, research its current demographics, cost of living, minimum wage laws, unemployment history, etc. and write an argument for your state representatives supporting or contesting an increase in the minimum wage. Cite all resources in proper APA format

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Answer #1

New york cost of living in median terms for single person is 2000 dollars approximately . Unemployment rate stands at 4.5%.the demographics include 38.5% skilled labor and 57% unskilled labor and rest include unemployment rate. Minimum wage is at 15 dollars as against national average of 7.25 dollar. Also Unemployment has decreased from 6% from 20111 to 2018 which is great with inflation at 3%.

Considering all above factors it makes no sense to increase minimum wages since its much higher than federal minimum wages as this can lead to inflation and budget deficit in New York State.

References :

"Sources of Intra Industry wage dispersion", Quarterly Journal Of Economics, August 2018, p. 871.

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