Minimum Wage Salary

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A Minimum Wage Salary is a wage defined by a minimum wage law that defines the minimum allowable worker wage (within its regulatory region).



References

2013

  • http://en.wikipedia.org/wiki/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, reduces inequality, boosts morale and forces businesses to be more efficient.[1] 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 may be less effective and more damaging to businesses than other methods of reducing poverty.[2]

  1. Advantages Of The Minimum Wage http://robertnielsen21.wordpress.com/2012/07/27/the-advantage-of-the-minimum-wage/
  2. Black, John (September 18, 2003). Oxford Dictionary of Economics. Oxford University Press, USA. p. 300. http://www.amazon.com/dp/0198607679. 

2013


2016

  • (Wikipedia, 2016) ⇒ https://en.wikipedia.org/wiki/minimum_wage Retrieved:2016-10-13.
    • A minimum wage is the lowest remuneration that employers may legally pay to workers. Equivalently, it is the price floor below which workers may not 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 it increases the standard of living of workers, reduces poverty, reduces inequality, boosts morale and forces businesses to be more efficient. In contrast, opponents of the minimum wage say it increases poverty, increases unemployment (particularly among unskilled or inexperienced workers) and is damaging to businesses, because excessively high minimum wages require businesses to raise the prices of their product or service to accommodate the extra expense of paying a higher wage.