Which of the following is a positive impact of increasing minimum wage?

When discussing the positive impact of increasing the minimum wage, improved job satisfaction is a key factor. Higher minimum wages can lead to enhanced job satisfaction among employees for several reasons. Firstly, increased wages can alleviate financial stress, allowing workers to meet their basic needs and potential aspirations more comfortably. This financial relief can enhance their overall well-being and allow them to focus more on their jobs.

Moreover, when employees feel that they are being compensated fairly for their work, their morale and motivation tend to increase. This sense of being valued can lead to a more positive workplace atmosphere, fostering loyalty and reducing employee turnover. Consequently, not only do employees feel better about their jobs due to higher wages, but employers may also benefit from reduced hiring and training costs associated with high turnover rates.

In contrast, the other choices suggest potential negative impacts: increased unemployment rates and decreased relocation risks typically highlight challenges rather than benefits associated with raising the minimum wage. Higher demand for low-skilled jobs may not necessarily correlate with wage increases, as some employers might seek to limit hiring in response to rising labor costs. Thus, improved job satisfaction stands out as the primary positive impact of increasing the minimum wage.