Minimum wage

The minimum wage is the least amount of salary that employees of a business can be paid. Around the world, the minimum wage is enforced as a law that every company must follow. If companies do not give their employees at least the minimum wage, the companies will be forced to pay an expensive fine for breaking the law.

Minimum wage is a relative term. Different countries have different minimum wages. Nunavut in Canada has a minimum wage of $11.00 per hour. Ontario, another place in Canada has a minimum wage of $10.25 per hour. 

Some people think the minimum wage should be raised, so poor working people will have more money and enjoy more human rights. Others think it is worse because the government will not have enough money to pay all the employees, so they will raise the taxes or raise the inflation. Some people think that the minimum will drastically hurt employees because companies only hire employees whose labor is worth the price they are required to pay. They think that if the minimum wage is raised, then employees will lose their job because companies cannot afford to pay them the raised minimum wage.

New Zealand was the first country to start minimum wage in 1894.

Related pages
 Constitution
 Constitutional economics
 Economic, social and cultural rights

Category:Macroeconomics
Category:Employment law