Reported positive or negative impact on jobs by specific companies

The negative or positive impact of a minimum wage increase and how it will affect jobs is one of the most widely studied and most contentious topic in labor economics. Several surveys were carried out the affect that the increase in the minimum wage would have on jobs: According to Express Employment Professional which is the country’s largest private employment firm which asked employers the impact that a minimum wage increase will have on their businesses. 

38% of employers who currently hire employees at minimum wages say that they would have to sack some employees to cover costs. In the same group, 54% stated that they would hire less employees and 65% said they would have to raise prices on for their goods and services.

 A survey of employers who at this time do not pay the minimum wages, 19% said that they would have to reduce the number of employees that they currently employ: 39 % would hire less people and 51 would have to increase their prices of their goods and services. This includes corporations like Wal-Mart, McDonald’s and KFC. The contend that costs would increase for companies who even now do not pay the minimum wage (Express Employment Professionals, 2014).