Analyzing Argument for Minimum Wage Increase

Read the following excerpt from a persuasive essay:

Excerpt: "Increasing the minimum wage is essential for creating a fairer economy. It enables workers to earn a living wage, which can reduce poverty and stimulate local businesses as employees have more money to spend. Opponents argue that raising wages will lead to job losses, but studies show that businesses often benefit from having more satisfied workers who can contribute more effectively. Therefore, raising the minimum wage is not just ethical; it is economically advantageous as well."