Minimum Wages Around The World

MINIMUM WAGES AROUND THE WORLD The minimum wage is a limit set by governments that establishes the smallest amount that employers can pay employees. The principle behind the law is to ensure that employers will provide workers with fair compensation for their efforts, and that employees will have enough money to live on. Minimum wages in US states and cities vs. the world Minimum wages vary drastically throughout the world and even between different states in the US. The minimum levels are usually based upon local costs of living and general governmental policy. Recent amendments in some US cities will make their minimum wages some of the highest in the world. Minimum wage (USD) US states and cities Rest of the world $16 O $15.58 Australia ONUNDA $15 OFA $15.00 San Francisco and Los Angeles (California), Seattle (Washington), O $14.75 Luxembourg New York fast food workers Anlullfume $14 HUN DRE STATES VRVE FOR LGATE VATE FEDERAL R $13.00 Seattle (large O $13 businesses) O $12.83 France FOR ALL DETS. PU Qane Eerh● $12.10 Belgium O$12 NEDST $12.00 Missoula, MT O (city workers) $11.67 Netherlands RO O $11.28 Germany $11 NDREDDoLARS O $11.02 United Kingdom $10.75 Montgomery and O Prince George's Counties, Md. $10.50 Montgomery and o Prince George's Counties, Md. $ 10.50 D.C. $10.50 Chicago, IL $10.10 Portland, ME O $10.00 Massachusetts o $10 $10.00 California $9.75 Buffalo (city workers) $9.75 Alaska O $9.60 Connecticut $9.60 Rhode Island, Vermont $9.50 Minnesota (large employers) • $9.47 Washington $9.25 Oregon • $9.00 Nebraska, New York O $9 $8.75 Maryland, West Virginia o $8.55 South Dakota O $8.50 Hawaii, Michigan • $8.38 New Jersey • $8.25 Delaware, Guam, Nevada o $8.10 Ohio O $8.05 Arizona, Florida, Montana o $8.00 Arkansas o NOTE $8 $7.75 Minnesota o $7.65 Missouri O $7.50 New Mexico O ENDER ND PRIVATE $7.25 Ol Idaho, North, Carolina, North Dakota, Texas, Utah, Virginia, Wisconsin $7 O $6.99 Israel O $6.54 Japan $6 SKAHIS O $5.79 Spain O $5.51 South Korea O $5.23 Greece Georgia, Wyoming $5.15 O $5 O $4.19 Hong Kong $4 O $3.85 Saudi Arabia O $4.51 Portugal O $3.2 Poland $3 O $2.82 Turkey O $2.52 Hungary O $2.41 Lithuania O $2.12 Brazil $2 O $1.7 Bulgaria $1.24 Iraq $1.24 Iran O $1.15 Thailand O $1.02 Syria $1 $0.9 Russia $0.8 China • $0.66 Ukraine $0.65 Nigeria $0.62 Mexico O $0.59 Vietnam O $0.5 Afghanistan • $0.31 India $0.01 Cuba No minimum wage $0 Alabama, Louisiana, Mississippi, New Hampshire, South Carolina and Tennessee 6 EU member states - Austria, Denmark, Cyprus, Italy, Finland and Sweden - have no statutory minimum wage. However, in some of these countries (and across Scandinavia) wages are set through collective agreement between employers and trade unions. Median salaries are also generally higher in these countries compared with the rest of Europe. The move toward living wages Around of all hourly, non-self- employed workers 18 and older are "near-minimum 20.6 30% million people or in the US wage" workers. That represents 3.9% of all hourly-paid employees in the US In 2013, 3 million workers had wages at or below the current federal wage level (Bureau of Labor Statistics). Rising living costs in major cities around the world have seen living wage movements gain momentum. A living wage is a salary high enough to maintain a normal standard of living based on local economic factors. For instance: London Average monthly rent (July 2015) London $2,146 Rest of the UK (excl. London) $1,074 Living wages would then be: London $13.46 Rest of the UK (excl, London) $11.82 The idea is that by factoring local market prices into living wage salaries will enable workers to afford to live in high-rent cities like New York or London. It also means that low-skil employers, e.g.coffee chains, can ensure their staff have a decent standard of living. Notes 1 Some city minimum wages take effect over next few years. 2 Varies according to state/province legislature. Hourly wages were calculated by dividing the annual minimum wage (USD) rate by 52 weeks and then by the hourly length of the standard working week. All conversions correct as of 29 January 2016. US state data and non-US data correct as of 29 January 2016 Sources Arnett, G. and Nardelli, A. (2015). New York's $15 minimum wage would be the highest in the world. theguardian.com Bureau of Democracy, Human Rights, and Labor. (2015). Country reports on human rights practices for 2014. state.gov HomeLet. (2015). HomeLet Rental Index. homelet.co.uk National Conference of State Legislatures. (2016). State minimum wages | 2016 minimum wage by state. ncsl.org Trust for London. (2015). London living wage. trustforlondon.org.uk DeSilver, D. (2015). 5 facts about the minimum wage. pewresearch.org This image is licensed under the Creative Commons Attribution-Share Alike 4.0 International License - www.creativecommons.org/licenses/by-sa/4.0 CashNetUSA. EMoney's on the waye hONE H