This paper discusses the importance of minimum wage and addresses some questions connected with this legislation. It has been found that while minimum wage's primary goal was to improve the standard of living of people, the workers in our country have been unable to reap the real benefits of this law because of the high rate of inflation. Secondly, some argue that minimum wage increases the rate of unemployment in the country too. But still minimum wage is an important legislation, which should not be repealed because if imposed correctly, it can have a positive impact on long-term economic growth. 7 pgs, bibliography lists 3 sources.
