A Study on Minimum Wage Act and Its Impact of Labor Market
Author : VR Akshara and Dr. MD Chinnu
Abstract :
Protect workers from exploitation. The study examines effects on employment levels and labor demand. It highlights the influence of minimum wages on low-skilled and informal worker Rising labor costs may affect employer hiring decisions. Minimum wages can improve income distribution minimum wage policies on the labor market. Minimum wage laws aim to ensure fair wages and reduce poverty. The study also considers productivity and worker motivation. Challenges include potential job losses and growth of informal employment. Effective implementation plays a crucial role in achieving policy goals.
Keywords :
Minimum Wage, Labor Market, Employment, Wage Policy, Labor Law, Income Inequality.
