Minimum wage
The minimum wage is the minimum rate a worker can legally be paid (usually per hour) as set by statute. It is different from the lowest wage determined by the forces of supply and demand in a free market. In most cases, the minimum wage acts as a price floor. Each country sets its own minimum wage laws and regulations, and many countries have no minimum wage.
Worldwide minimum wages
The list below gives the official minimum wage rates in some countries. Some countries are more effective than others at enforcing these laws, so that the effective minimum wage may be lower than the official one. Exchange rates as of 11 July 2005.
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- (*) 40 h/week; 50 weeks/year
- GDP information from list of countries by GDP (nominal) per capita
~ Table of Content ~
| ► | Introduction |
| ► | History |
| ► | Consequences of minimum wage laws |
| ► | Worldwide minimum wages |
| ► | Minimum wage in the United States |
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