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If you are willing to go back to work for that, they can do that. If there is a collective bargaining agreement, there may be alternatives.
A payment made to an intermidiary,often calculated as percentage of the value of goods and services provided.
'Reasonable' is a matter of opinion. Employers will pay the lowest wage that they can get away with subject to the law, the labor supply and collective bargaining agreements. They don't have any choice - their competitors are doing the same thing.
Unemployment will rise.
george w. bush
There is no correct answer to this question, it is a matter of opinion.
It is the policies of a government in general that exacerbate unemployment, not any particular party. When you over-regulate, over-tax, inflate the currency, selectively enforce the law, bail out some but not others, etc., this will cause dislocations in the market leading to failed enterprises, curtailed growth, and unemployment. When you further mandate a minimum wage, that also causes unemployment. As both parties do these things, they are both responsible.
lobbying - apex
A raise in the minimum wage causes a significant increase in the cost of living. Although less the 1/10 of 1% of people are paid just the minimum wage there are numerous employment contracts tied to that number. An example in a collective bargaining agreement may state a particular job will pay 3,4 or 5 times minimum wage. So if minimum wages increased by 25 cents per hour that contract would automatically pay 75 cents to $1.25 per hour morecausing goods and services to increase in order to compensate.
The minimum weekly benefit is $25 and the maximum is $443.
lobbying - apex
Disequilibrium unemployment, also known as real wage unemployment or classical unemployment exists primarily for 2 reasons: 1) trade unions or labor organizations bargain for higher wages, or 2) government mandates some minimum wages.