That is minimum wage rate we all yearn for, or even more than that would be great.
It has been long overdue and the workers deserve it.
But even with the wage rate being constant, the cost of living still increases rapidly (regardless).
As much as we would like the minimum wage rate to be the maximum possible, we would not fancy imagining what the living costs would be like when the proposed $5 comes into place.
Some people (and political parties alike) tend to think that wage increase is as easy as anything.
Lest we forget, if the wage rate happens to rise, there are side impacts that we should expect.
It will be either an increase in the price of goods (and/or services) or some workers will be laid off since the employers cannot afford to pay them (especially SMEs).
The reason being, in one way or the other, employers will have to cover for this rapid increase.
Let us not live with the perception that increasing the minimum wage rate is as easy as dancing to the tune of Azonto.Home | Top