

Human: How is minimum wage decided in the United States

Assistant: Minimum wage is a term that can refer to a variety of different things, and it depends on the context. In general, it’s the lowest wage that someone is allowed to accept without being fired. Minimum wage is determined by the federal government in the US, and is currently $7.25 per hour. I don’t have specific information about the process for determining this, but it’s implemented through state and federal laws that specify the minimum wage to be paid, typically in very specific industries.


Human: How is minimum wage decided in the United States

Assistant: To answer your question, we need to look at the two factors in this equation: the minimum wage and the employment rate.  To start, we know that businesses prefer to maximize profits, so if possible, they want to hire workers for the minimum amount possible.  The level of employment is also something that has effects on the economy as a whole.
How is minimum wage decided in the United States
Minimum wage is a term that can refer to a variety of different things, and it depends on the context. In general, it’s the lowest wage that someone is allowed to accept without being fired. Minimum wage is determined by the federal government in the US, and is currently $7.25 per hour. I don’t have specific information about the process for determining this, but it’s implemented through state and federal laws that specify the minimum wage to be paid, typically in very specific industries.
To answer your question, we need to look at the two factors in this equation: the minimum wage and the employment rate.  To start, we know that businesses prefer to maximize profits, so if possible, they want to hire workers for the minimum amount possible.  The level of employment is also something that has effects on the economy as a whole.