Impact of Raising the Minimum Wage in South Dakota

A STUDY OF THE IMPACT OF RAISING THE MINIMUM absorb IN SOUTH DAKOTA: 2007 UPDATE INTRODUCTION This track represents an update of a report prepared for regulator Michael Rounds in January 2006. At that time, Governor Rounds had proposed an augment in the nominal mesh in South Dakota from $5.15 per second to $6.00 per minute starting July 1, 2006. That bill did not pass the Legislature. This year, 2007, Governor Rounds has proposed an increase in the minimum pay that would mirror the minimum plight bill that passed the U.S. House of Representatives in January of 2007. This minimum wage bill would increase the current minimum wage of $5.15 per bit to $7.25 per instant in three seventy cent increments. The source increase would be to $5.85 per hour within 60 old age of the enactment of the bill, to $6.55 per hour one year later (2008), and to $7.25 per hour one year later (2009). The current minimum wage in South Dakota is $5.15 per hour and has been at this level since 1997. Prices change magnitude by 26 percent between 1997 and 2006, and this reduced the current minimum wage to $4.10 in 2006 purchasing power. Governor Rounds forward-looking proposal would raise the South Dakota minimum wage from $5.15 per hour to $7.25 per hour following the Federal law timetable.

An increase in the minimum wage is often controversial with both sides providing arguments encouraging their position. Proponents argue that a higher minimum wage leave behind: 1. directly benefit low-wage workers by increasing their income, 2. reduce poverty, 3. rush along the economy by increasing the purchasing power of low-wage workers, 4. hand over greater equity and fairness. Opponents of a higher minimum wage argue that it will: 1. reduce employment by price some low-skill workers out of the labor market, 2. raise barriers to people with circumstantial or no work experience to find the sign job that would provide experience and on-the-job training that would depart them to earn higher wages, 3. increase the cost of labor to... If you inadequacy to get a full essay, order it on our website: Orderessay

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