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Minimum wage increase refers to the legislative action of raising the minimum hourly wage that employers are required to pay to their employees. The increase of the minimum wage aims to provide economic security for low-wage workers and lift them out of poverty by providing a more livable wage, while also potentially increasing consumer spending and boosting economic growth. Some argue that minimum wage increases may lead to job loss, businesses closing, and inflation. Overall, minimum wage increase is a highly debated and controversial topic with varied opinions on its effectiveness and impact.
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