Transcribed

Real Hourly Minimum Wages Around The World

Adjusting for purchasing power parity:

Real Minimum Wages

Once you factor in buying power and cost of living, Australia's $16 minimum wage -- the highest in the world -- isn't actually as good as it sounds. Here's a comparison of the hourly minimum wage in 26 countries, adjusted for purchasing power parity:

$7.59 Canada Actual min. wage $9.75

$7.25 United States

$0.80 Mexico min. wage $0.55

$2.80 Chile Actual min. wage $2.15

$4.86 South Korea min. wage $3.98

$3.95 Turkey min. wage $2.69

$4.88 Israel min. wage $5.69

$6.29 Japan min. wage $9.24

$9.77 Australia min. wage $16.00

$8.17 New Zealand min.wage $10.73

Key:

Lower adjusted minimum wage than the U.S. $10 $5 $1

Higher adjusted minimum wage than the U.S.

$8.24 United Kingdom min.wage: $9.38

$3.04 Czech Rep. min. wage: $2.15

$2.53 Estonia min. wage: $2.06

$9.25 Netherlands min. wage: $10.47

$8.97 Ireland min. wage: $10.93

$4.19 Poland min. wage: $2.56

$6.50 Austria min. wage: $7.23

$9.46 Belgium min. wage: $10.99

$3.19 Slovak Rep. min. wage: $2.38

$3.83 Portugal min. wage: $3.49

$6.12 Slovenia min. wage: $5.50

$3.47 Hungary min. wage: $2.42

$4.55 Spain min. wage: $4.63

$10.17 France min. wage: $11.73

$10.37 Luxembourg min. wage: $13.35

$4.28 Greece min. wage: $4.28 Adjusting For Purchasing Power Parity: REAL MINIMUM WAGES Once you factor in buying power and cost of living, Australia's $16 minimum wage -- the highest in the world -- isn't actually as good as it sounds. Here's a comparision of the hourly minimum wage in 26 countries, adjusted for purchasing power parity: $7.59 ČANADA ACTUAL MIN. WAGE: $9.75 $4.86 SOUTH KOREA MIN. WAGE: $3.98 $3.95 TURKEY MIN. WAGE: $2.69 $7.25 ÚNITED STATES $6.29 $0.80 MEXICO MIN. WAGE: $0.55 $4.88 ISRAEL MIN. WAGE: $5.69 JAPAN MIN. WAGE: $9.24 $9.77 AUSTRALIA MIN. WAGE: $16.00 $2.80 CHILE MIN. WAGE: $2.15 $8.17 NEW ZEALAND MIN. WAGE: $10.73 $3.04 CZECH REP. $8.24 UNITED KINGDOM MIN. WAGE: S2.15 MIN. WAGE: $9.38 $2.53 ESTONIA MIN. WAGE: $2.06 KEY: Lower adjusted minimum wage than the U.S. $9.25 NETHERLANDS MIN. WAGE: $ 10.47 $10 $5 $8.97 $4.19 IRELAND MIN. WAGE: $10.93 POLAND MIN. WAGE: $2.56 $6.50 AUSTRIA MIN. WAGE: $7.23 $1 $9.46 Higher adjusted minimum wage than the U.S. BELGIUM MIN. WAGE: $ 10.99 $3.19 SLOVAK REP. MIN. WAGE: $2.38 $6.12 SLOVENIA MIN. WAGE: $5.50 $3.47 $3.83 PORTUGAL MIN. WAGE: $3.49 HUNGARY MIN. WAGE: $2.42 $10.17 FRANCE MIN. WAGE: $11.73 By Lisa Mahapatra $4.55 $10.37 LUXEMBOURG MIN. WAGE: $13.35 INTERNATIONAL BUSINESS TIMES SPÄIN MIN. WAGE: $4.63 $4.28 GREECE MIN. WAGE: $4.28 Source: OECD StatExtratcts Minimum Wage Data

Real Hourly Minimum Wages Around The World

shared by lisamahapatra on Sep 03

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Australia might have the highest hourly minimum wage in the world, but it’s also one of the most expensive places in the world to live. $16 in Australia doesn’t buy as much stuff as it does in the... U.S. When you adjust Australia’s hourly minimum wage for buying power, or Purchasing Power Parity (PPP), that $16 is worth only about $9.77 -- which is still quite a bit higher than the U.S. hourly minimum wage of $7.25. The country with the highest “real” minimum wage is Luxembourg: $10.37 after being adjusted for PPP. Only nine countries had a higher real minimum wage than the U.S.’, according to OECD data.

Publisher

International Business Times

Designer

Lisa Mahapatra