Formal business memo Article Example | Topics and Well Written Essays - 500 words

Formal business memo - Article ExampleWhen the cost of living surges, the minimal wage should also rise. This is because workers formula significant strain while earning figures that do non consider inflation. In the end, the quality of life diminishes as a large number of families are laboured into poverty. It is inbred for workers to feel that the state takes care of their welfare. Raising the minimum wage is one of the principal ways in which the state intervenes for workers who are majorly defenseless against businesspersons. It is essential to note that the current minimum hour wage of 7.25 per hour does not care of taxes that every employee faces. At the end of the day, most workers probably earn $ 4 per hour after taxes. This act will also favor the business community since higher pay raises the esprit de corps of workers. A workforce with increased morale easily manifests higher productivity. Besides, the city should target increased expenditure towards rising out of the consequences of the recession. This is only possible if workers purchasing power increases. When the city raises the minimum wage, the action at law will affect more than 400,000 workers who make a third of Chicagos workforce (CBS Chicago 1). This figure considers casual workers in areas such as hotels.Hotel workers in Los Angeles recently won a $ 15.37 minimum wage policy. This happened after unions and right groups formed advocacy groups for the same. This is the highest minimum wage figure among all the states. It is significant to highlight that hotel workers were the originators of the idea. This suggests that the minimum wage issue mostly affects the casual workers. Casual workers are predisposed to exploitation by business owners because such jobs do not require special skills. Consequently, the minimum wage is a serious concern for SMEs and the informal sector such as hotels. A higher minimum wage increases the cost of business. A