The minimum wage was enacted to stabilize the economy and protect the workers in the labor force. The U.S. Minimum wage currently is $7.25 per hour. For a 40-hour week, that amounts to $290 per week or $15,080 per year. The minimum wage was last increased in 2009. The average inflation rate from 2009 to 2022 has been 2.55%. If the minimum wage increased along with inflation, it would be $10.31 today.

Find two authoritative arguments in favor of and against an increase in the minimum wage and present your opinion concerning which is best for our economy.