Minimum Wages Act Of Trinidad & Tobago

Minimum wage is a major issue. Any successful business should promote the social uplifting of its workers and employees. Minimum wage is the lowest hourly wage allowed by federal and state labor laws. It generally applies to unskilled or semi-skilled laborers working in service industries or manufacturing plants.

workers

Workers under the age of 20 must get at least $4.25 an hour for the first 90 consecutive days of employment. After that, they are due the minimum wage. Workers are very frustrated. But again, who benefits? Workers need a minimum amount of income from their work to survive and pay the bills. Someone working 40 hours per week at $5.15 an hour will make about $800 per month after taxes.

labor

Labor-dominated firms will hire more and more people until they run out of labor supply. There may even be a short spike up in labor costs, followed by firm failure, and a dramatic drop in labor demand as the industry becomes dominated by automation. Laborers are free to associate with whomever they wish and are also free to pool capital with others and try their hand in the marketplace at any time. However, when it comes to government voters are literally forced to make a choice. Labor is a commodity; governments make messes when they decree commodities' prices. Washington, which has its hands full delivering the mail and defending the shores, should let the market do well what Washington does poorly.

employment,employer,employers

Employers would benefit from the increased certainty: with scheduled annual adjustments they would know what to expect and could plan for the upcoming increases in their wage bill. Employment is at an all time high. Unemployment is continuing to fall. Employment in the 20 to 24 age range also fell relative to employment of older workers, who typically earn higher wages.

Employers of "tipped employees" who meet eligibility requirements for the tip credit under the FLSA, may count tips actually received as wages under the FLSA. However, the employer must pay "tipped employees" a direct wage. Employment rates among program participants rose 6% to 10% over the three years of the program. Those not working when the program started earned $2,400 more than their control group counterparts, and $5,800 over five years. Employment growth is weak and unemployment has increased. Inflation is up, energy prices remain relatively high, and profit margins are being squeezed.