Raising the minimum wage has a number of serious and negative unintended consequences.
Employers, especially small family and midsize businesses, will be disproportionately hurt by the extra costs incurred. The local neighborhood stores and businesses with razor-thin profits will be forced to raise prices to make up for the addition labor costs. With the increased prices, customers may elect to take their business elsewhere. Losing customers means losing income, which could result in the business having to layoff workers.
We have a steady stream of immigrants coming into the United States, which is good news. However, as anyone who lives in a suburb recognizes, there are many people working at jobs that would ordinarily pay minimum wage, but unscrupulous business owners compensate people in cash far under the minimum wage. This practice closes the door to opportunities for young people, students and mothers returning to the workforce to get a job.
In the past, as a society, we had viewed the entry-level jobs as a way to earn some money during school and over the summer. Certain menial jobs were never intended as a means to provide for a family. The minimum wage jobs were primarily an entry point into the workforce. The lower-end job was the ideal place to learn about the real world, how to deal with managers, interact with customers and gain the experience to move onto bigger and better things.
We would better serve this segment of the population if we allocated money to train people to enter areas in which there are shortages of workers, such as the trades. We should offer apprenticeships to learn marketable skills in a specific trade. If a person could learn to become an electrician, carpenter, plumber, heating and cooling professional or mechanic, they could built a long-term financially rewarding career.
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