In January 2022, the NL Minimum Wage Review Committee was established with a mandate to review input on the minimum wage, on the minimum wage adjustment process and the wage rate. On May26, 2022, Minister Davis announced increases to the Minimum Wage in Newfoundland and Labrador. On October 1, 2022 the minimum wage increased by 50 cents, bringing it to $13.70 per hour. On April 1, 2023, the minimum wage increased by 80 cents bringing the rate to $14.50 per hour. On October 1, 2023, the minimum wage increased by another 50 cents, bringing it to $15.00 per hour. This announcement has seen minimum wage in NL increase from$13.20 to $15.00 in 1 year; an increase of $1.80 per hour. What impact would this increase have on employers? Discuss impact on small businesses (<20 employees) and large businesses (>100 employees); as well as on unionized and non-unionized organizations. Why would the NL government make such an increase? Your discussion should be detailed and you need to provide a thoughtful reply to other class members' postings as well. You will not be able to comment on other posts until you make your own post. Your answer should be about 250 words