Minimum Wage

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Dictionary Says

Definition of 'Minimum Wage'

The minimum amount of compensation an employee must receive for performing labor. Minimum wages are typically established by contract or legislation by the government. As such, it is illegal to pay an employee less than the minimum wage.
Investopedia Says

Investopedia explains 'Minimum Wage'

The minimum wage attempts to protect employees from exploitation, allowing them to afford the basic necessities of life. The minimum wage rate fluctuates between countries, and sometimes between states or provinces.

Minimum wages have drawn strong criticism from many economists, since it establishes a price floor on wages. Price floors can lead to a dead weight loss in the economy, which means that inefficiencies exist. In this case, the minimum wage might force companies to hire fewer employees, thus increasing unemployment.

As of July 2008, the U.S. federal minimum wage rate was $6.55/hour. However, in states where the state minimum wage is higher than the U.S. federal minimum wage, workers must be paid the higher minimum wage.
Search results for

'Minimum Wage'

  • Minimum Wage: Good Cause Or Economic Pariah? - Investopedia.com

    http://financialedge.investopedia.com/financial-edge/0112/Minimum-Wage-Good-Cause-Or-Economic-Pariah.aspx
    ... Minimum Wage: Good Cause Or Economic Pariah? ... Lauded by progressives and rejected
    by most economists, minimum wage laws are somewhat of a hot button topic. ...

  • The Minimum Wage: Does It Matter?

    http://www.investopedia.com/articles/07/minimum_wage.asp
    Despite paying one of the highest minimum wages in the world, the minimum wage is
    a perpetual hot potato among politicians in the United States. ...

  • Unions: Do They Help Or Hurt Workers?

    http://www.investopedia.com/articles/economics/09/unions-workers.asp
    ... labor, and thus, wages. Unions can, and do, use the following techniques:
    Push for minimum wage increases. Minimum wage increases ...

  • Ethical Investing: Workers' Rights and Human Rights | Investopedia

    http://www.investopedia.com/university/ethical-investing/ethical-investing5.asp
    ... Some believe that the federally mandated minimum wage is sufficient. Still,
    others believe companies should be allowed to pay anything ...

  • Compensation Myths: Burger Flipper Vs. Investment Banker

    http://www.investopedia.com/articles/financialcareers/09/compensation-myths.asp
    ... There is an opposite view toward minimum wage laborers - workers who man fast food
    restaurants, janitors, personal assistants, law firm runners, gasoline ...

  • GM's New Deal Keeps It In The Auto Game

    http://stocks.investopedia.com/stock-analysis/2011/GMs-New-Deal-Keeps-It-In-The-Auto-Game-GM-HMC-TM-NSANY-VLKAY0922.aspx
    ... $242.5 million. (For the importance of minimum wage and what this pay increase
    can mean, check out The Minimum Wage: Does It Matter?). ...

  • Comparing Job Sectors In Silicon Valley - Investopedia.com

    http://financialedge.investopedia.com/financial-edge/0110/Comparing-Job-Sectors-In-Silicon-Valley.aspx
    ... (Despite paying one of the highest minimum wages in the world, the minimum wage
    is a perpetual hot potato among politicians in the United States. ...

  • CFA Level 1 Study Guide - Microeconomics - Price Ceilings and ...

    http://www.investopedia.com/exam-guide/cfa-level-1/microeconomics/price-ceilings-floors.asp
    ... Rate Options vs. FRAs; 15.30 Interest Rate Caps and Floors; 15.31 Minimum and
    Maximum Values for Options; 15.32 Straddles and Strangles; ...

  • How To Make $1 Million In Your Small Business

    http://www.investopedia.com/articles/pf/08/small-business-million.asp
    ... employ. Many large corporations spend millions of dollars on marketing
    only to pay their customer service personnel minimum wage. ...

  • 5 Ways To Fund A College Education

    http://www.investopedia.com/articles/pf/08/affordable-college-education.asp
    ... Temp agencies do most of the job hunting work for you, and the office jobs they
    offer tend to pay well above minimum wage, provide work experience closer to ...

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