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Raising wages for workers that provide essential services - Coggle Diagram
Raising wages for workers that provide essential services
Front line heroes
They worked during the pandemic to provide us with important services
Majority of people were working from home because of the pandemic
Risking their lives
Pros of raising wages
Better lifestyle
Could save some money aside instead of spending all of it on life necessities
Offsets the risks
Earn more respect
Increased pride in the community
Work better
The salary raise would encourage them to give off their best
More availability of workers
Because wages will be higher
140,000 expected new jobs
Cons of raising wages
Labor turnover
Many laborers would lose their jobs
Inflation
Workers may be replaced with artificial intelligent machines
Workers would then work outside their home countries
Counter argument and refutations
Raising wages may cause inflation
worsen company's finances
raising wages may cause unemployment and close of businesses.
higher wage could cause higher productivity rate
Workers doing their best
incentive to perform to fullest
A better lifestyle
Average essential workers earn an average of 15,000 which is 3000 less than the poverty line
They could barely feed a family of 3, how about more?
They have no extra money to save
Economically speaking
Raising wages will enhance the economy since they will use the extra money to buy common necessities thus the country is still making more profits
Boost to economy
Increasing wages by $10 will cause a $33 billion net increase in economic activity
Decrease the wealth gap