Minimum Wages

Definition
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 labors.

View about Minimum Wages

Supporter: It increases the standard of living of workers and reduces poverty. Opponents: It increases the unemployement, particularly among workers with very low productivity due to inexperience or handicap, thereby harming lesser skilled workers to the benefit of better skilled workers.

Minimum wage law

First enacted in New Zealand in 1894 It setting a particular amount of money, but also in terms of which pay period (e.g. Russia and China set monthly minimums) or the scope of coverage