A Review on the Effect of Minimum Wage on Raising the Income of Low-income Resi-dents
The original intention of the minimum wage system is consistent with the requirement of raising the income of low-income residents for common prosperity.However,while the minimum wage plays a role in labor protection,it may also bring side effects such as unemployment.This article sorts out the possible ways for minimum wage to increase the income of low-income residents,and summarizes the possible impact of minimum wage and the conditions for its play from the aspects of income(distribution),employment(entrepreneurship),training and so on.The results show that:in the sector covered by minimum wage,if the minimum wage standard is appropriate,there is no obvious unemployment,and enterprises do not reduce training,minimum wage can raise the income of low-income residents.If the government can share the labor costs of enterprises through pro-enterprise policies such as training subsidies,the minimum wage will have a better effect on raising the income of low-income residents.
minimum wageincrease in the income of low-income residentsliterature review
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