ACC12: Chapter 16 Article

http://www.edmontonsun.com/News/Alberta/2009/03/05/8633386-sun.html

Summary

“Alberta’s minimum wage increases” is an article written by Kerry Diotte from the Edmonton Sun. On April 1, 2009, citizens of Alberta will have an increase in minimum wage of $0.40. From the current minimum wage of $8.40 in Alberta, Alberta’s minimum wage will increase to $8.80. This increase in minimum wage will make Alberta the province with the second highest minimum wage. Alberta won’t take second for too long, because in a couple of months other provinces like Ontario, Quebec, Saskatchewan, and Newfoundland will all have a higher minimum wage, with Ontario have the highest minimum wage of $9.50. Many people have different views of minimum wage. Employees will always want it higher while employers think the lower the better.

Connection

The connection between the article, “Alberta’s minimum wage increases” and chapter 16 of the accounting 12 textbook is wages. Wages are the payment that a worker earns for his or her labour. The article talks about the minimum wage an employee earns for their labour on an hourly basis in Alberta and compares it to other province’s minimum wages. In section 16.1 in the accounting text book, it gives the general meaning of wages and how much a worker gets paid for a period of time. An employee loses some of his payment for his labour if he is late and earns more money if he is paid commissions. Paying wages is what keeps employees working and businesses running.

Reflection

I think that increasing the minimum wage in Alberta isn’t the best thing to happen. The increase in wages will make it so more people are able to buy more stuff, but this is only for people who are earning less than $8.80 per hours in Alberta. Increasing the minimum wage will cause the gap between people who are earning over $8.80 in Alberta and the people earning the minimum wage in Alberta less. People who had to work hard for a raise might get discourage because everyone earning minimum wage in Alberta will get a raise of $0.40 an hour on April 1 for doing nothing. This is also bad for employers because they are paying more for the same quality of work. Increasing the minimum wage might cause a few businesses to lay off people because of the increase in minimum wage during a recession. The increase in minimum wage for Alberta is a discouraging thing for employees earning over minimum wage, bad for employers who aren’t doing well in business, but a good thing to those who are earning minimum wage in Alberta.