The Economic Effect Of A Minimum Wage Increase On The Fast...

The Economic Effect of a Minimum Wage Increase in the Fast Food Industry A question plaguing economists in the news the last couple of years is what would the effect of an increase in the fast food industry minimum wage be for the workforce. Better yet, how would it effect the fast food industry itself. There have been certain areas of the country that have already increased fast food workers minimum wage, but the debate is would it work elsewhere. With the increase in the demand from fast food workers for a minimum wage increase it has spurred on a heated debate what the outcome would be with many believing that it would devastate the fast food workforce with a large increase in workforce reduction enabling the fast food industry to keep it’s ever growing profit margin. However, there are those that would disagree with that assessment. The problem that is seen is that both sides of this issue forget to take a step back and look at the whole picture like the smaller group of economists have that understand that there is positive and negatives to th e fast food industry minimum wage increase. Also, with a look at the bigger picture it can be seen that with the minimum wage increase in fast food jobs is farther reaching than just the fast food industry. 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