response to my peer about his discussion "Firstly, it is likely to help workers, particularly those earning the current minimum wage. With a higher wage, workers may experience improved financial stability and an increase in their standard of living. This can lead to a boost in consumer spending, helping the overall economy. However, certain parts of the labor market may be hurt by the proposed increase. Small businesses, especially those working on narrow profit margins, may struggle to afford the higher labor costs. This could lead to potential job losses or reduced hiring as businesses look to manage their expenses. Additionally, industries that heavily rely on low-wage labor may face challenges in adjusting to the increased costs. Furthermore, the prices of goods and services produced with minimum wage labor are likely to be affected. To compensate for higher labor costs, businesses may increase prices to support their profit margins. This could result in inflationary pressures, potentially affecting consumers who rely on these goods and services. In conclusion, the market impacts of the proposed increase in the federal minimum wage to $15 per hour are complex. While it may help workers by improving their financial situation, it may also have negative