The Latest News Entertainment
If you haven't heard the news, Newark & most New Jersey cities will increase minimum wage to $15. Is this a great thing? Yes it is!!! With New Jersey being so expensive, many residents have to work 2 or even 3 jobs just to make ends meet.
So you may now be asking what would be so devastating about raising the minimum wage to $15? Well studies have shown that when there is a major jump in wages, companies have accommodated the increase with major layoffs. Just when you thought things were about to change for you financially, you may find yourself sitting in the unemployment office. Most companies keep their veteran workers., relying on them to pick up the slack and take on more responsibilities. Many companies have increase prices on many products to also accommodate for the money theyre dishing out to their employees. New Jersey is expensive enough and it may be getting ready to get more expensive.
The unemployment rate in Newark & New Jersey as a whole is still high. If there are major layoffs, many residents will be force to travel to nearby cities to look for employment. So may even leave the city to accommodate their travel expenses. All in all, yes raising the wages for residents is great, but the results of it may be devastating. We all will have to wait and see.
Fammtv.com Up To The Second News
FAMMTV THE LATEST NEWS AND ENTERTAINMENT