Question

In: Economics

Do you think each state should set up a different level of minimum wage and different...

Do you think each state should set up a different level of minimum wage and different renewal periods? Or do you think each state should have a unilateral agreement on the issues?

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Answer:
I think each state should set up a diferent level of minimum wage and different renewal periods which suits them, becuause of below mentioned reasons:

  • Each state have different level of prosperity and availability of job, at the same time cost of living in all the states are different. So it would be better if states decides themselves regarding minimum wage of their state based on cost of living and other parameters into account.
  • States which are richer and have better scope of employment can keep minimum wage at higher value on the other hand states where companies average margin and money are less they can keep lower minimum wage policy subject to cost of loving in that particular state.
  • Minimum wage policy should also be decided by the qualification of the labour present in that state so for various states that could be different and hence different minimum wage value.
  • Kind of work which is available in the industries of that particular state also should have say in deciding minimum wage value. So it should be kept at state level and so does renewal of the value.

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