Minimum Wage
Last update: Friday 21st of November 2008
A minimum wage is the lowest hourly, daily, or monthly wage that employers may legally pay to employees or workers. Equivalently, it is the lowest wage at which workers may sell their labor. First enacted in Australia and New Zealand in the late nineteenth century, minimum wage laws are now enforced in more than 90% of all countries. There is a broad consensus among economists that minimum wage laws distort the price mechanism and hurt the very people they are intended to help. Almost three-quarters (73%) of labor economists believe that an increase in the minimum wage increases unemployment. Only 6% believe that an increase in the minimum wage increases employment. When asked which of three policy alternatives (the minimum wage, the earned income tax credit, general welfare) best helps poor families, only 9% of economists cited the minimum wage (70% cited the earned income tax credit). Both supporters and opponents of the minimum wage assert that the issue is a matter of ethics and social justice involving worker exploitation and earning ability. Supporters claim that increases in the minimum wage increase workers' earning power and protect workers against employer exploitation. Opponents claim that increases in the minimum wage increase unemployment; and the unemployment caused outweighs the benefits to minimum wage workers who remain employed, while allowing businesses to more effectively exploit the minimum wage workers who remain.
Minimum Wage
US Department of Labor: ESA's mission is to enhance the welfare and protect the rights of American workers by enforcing employment laws.
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Minimum Wage Laws in the States
The Department of Labor enforces the Fair Labor Standards Act (FLSA), which sets basic minimum wage and overtime pay standards.
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U.S. Department of Labor - Find It By Topic - Wages - Minimum Wage
A minimum wage is the lowest hourly, daily, or monthly wage that employers may legally pay to employees or workers. First enacted in Australia and New Zealand in the late ...
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Minimum wage - Wikipedia, the free encyclopedia
Washington's 2008 minimum wage is $8.07 per hour. Washington’s minimum wage applies to workers in both agriculture and non-agricultural jobs, although 14- and 15-year-olds may be ...
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Minimum Wage
The federal minimum wage in the United States has been $6.55 per hour since July 24, 2008. Many states and municipalities have minimum wages higher than this (see List of U.S ...
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