Explore BrainMass
Share

Explore BrainMass

    Increase minimum wage

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    The AFL-CIO has been a proponent of increasing the minimum wage. Please help me to understand why.

    © BrainMass Inc. brainmass.com October 9, 2019, 5:41 pm ad1c9bdddf
    https://brainmass.com/economics/demand-supply/increase-minimum-wage-64298

    Solution Preview

    The AFL-CIO has been aproponent of increasing the minimum wage. Please helpme to understand why.

    The American Federation of Labor-Congress of Industrial Organizations (AFL-CIO) is the voluntary federation of America's unions, representing more than 9 million working women and men nationwide.

    The AFL-CIO was formed in 1955 by the merger of the American Federation of Labor and the Congress of Industrial Organizations.

    Overvoew of LABOUR MARKET
    The labour market is an informal mechanism where demand for and supply of labour interact.

    Demand for labour arises mainly from employers' need for workers to produce goods and services. Demand for labour on the other hand is determined by demand for employers' products (sometimes called consumer demand), export demand, and government policies among other factors. In addition, these demands are strongly interrelated. For example, an increase in the demand for construction workers because of a major construction project such as a large bridge, will result in an increase in demand for workers in other sectors such as those that supply bridge building materials, transportation and hospitality and retail sectors. This increase in demand for workers in other sectors is sometimes referred to as induced changes, and/or spin offs.
    Thus, The firms who sold ...

    Solution Summary

    This discusses the issue of increase in minimum wage

    $2.19