Minimum Wage

A minimum wage is the lowest hourly, daily or monthly remuneration that employers may legally pay to workers. Equivalently, it is the lowest wage at which workers may sell their labor. Although minimum wage laws are in effect in many jurisdictions, differences of opinion exist about the benefits and drawbacks of a minimum wage.

Supporters of the minimum wage say that it increases the standard of living of workers, reduces poverty, and forces businesses to be more efficient. Opponents say that if it is high enough to be effective, it increases unemployment, particularly among workers with very low productivity due to inexperience or handicap, thereby harming less skilled workers and possibly excluding some groups from the labor market; additionally it is less effective and more damaging to businesses than other methods of reducing poverty.

Read more about Minimum WageHistory, Minimum Wage Law, Debate Over Consequences, Empirical Studies, Surveys of Economists, Alternatives

Other articles related to "minimum wage, wages, minimum wages, minimum, wage":

Middle Class Squeeze - Common Beliefs of Middle Class Americans
... middle class is facing, particularly dealing with the minimum wage ... American Progress Action Fund believes that if the legal minimum wage was raised, it would encourage spending, investment, consumption, and therefore promote economic growth ... She states that if the minimum wage were raised, middle-class American families would be able to support their families and would be better able to cope with the ...
Leisure Employment Services Ltd V HM Revenue & Customs - Facts
... These workers were paid the minimum wage ... caravans, for which the maximum level of deductions from their wages were made (the maximum amount is stated under the r 36 of the National Minimum Wage ... and Customs (which enforces the National Minimum Wage Act) issued an enforcement notice ...
Minimum Wage Law By Country - International Labour Organization
... International Labour Organization insists "minimum wage fixing" for rights of labours and has adopted Minimum Wage-Fixing Machinery Convention, 1928, Minimum Wage ...
Minimum Wage In The United States
... As of July 24, 2009, the federal minimum wage in the United States is $7.25 per hour ... Some states and municipalities have set minimum wages higher than the federal level, with the highest state minimum wage being $9.19 in Washington ... Some types of labor are also exempt, and tipped labor must be paid a minimum of $2.13 per hour, as long as the hourly wage plus tipped income result in a minimum of $7.25 per hour ...
Minimum Wage - Alternatives - Collective Bargaining
... Italy, Sweden and Denmark are examples of developed nations where there is no minimum wage that is required by legislation ... Instead, minimum wage standards in different sectors are set by collective bargaining ...

Famous quotes containing the words wage and/or minimum:

    My home policy: I wage war; my foreign policy: I wage war. All the time I wage war.
    Georges Clemenceau (1841–1929)

    After decades of unappreciated drudgery, American women just don’t do housework any more—that is, beyond the minimum that is required in order to clear a path from the bedroom to the front door so they can get off to work in the mourning.
    Barbara Ehrenreich (20th century)