There is no Common Law Duty concerning the base of pay that a Principal must mak

Question

There is no Common Law Duty concerning the base of pay that a Principal must make to its employees. There is a Federal Statutory minimum wage which at 40 hours a week does not allow an individual to survive in main stream society without government or family assistance as the annual income would be $15,080. What is the difference in your opinion between a living wage and minimum wage?

The Federal Minimum Wage of $7.25 per hour has not changed since 2009. 29 states have mandated their minimum wage to a higher amount. In your opinion should there be a statutory living wage, why or why not?

Explanation / Answer

The minimum wage is set in order to make the society livable and devoid the organizations of the power to exploit their temporary employees.

The minimum wage ensures people get a decent output for their temporary work, and not get exploited by the principals, though it should be reviewed depending on the economic conditions and inflation in particular.

The rates set were as per 2009, hence it should be inflation adjusted every 5 years so as the minimum wage is adequate and livable on it.

So, the minimum wage is a good to have if it is revise regularly and adjusted as per economic conditions, so that the minimum wage can be seen as a living wage and would not be so low, at the same time it will ensure all the temporary workers get enough for their efforts, without any exploitation.

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