The Countries With The Highest Minimum Wages

Luxembourg mandates the world’s highest minimum wage at $ 13.78 / hour.

The minimum wage is the lowest payments or salaries that employers can legally pay their jobs to their workers. Minimum wage legislation has been introduced as a way to stop the exploitation of employees at sweathops. Minimum wages are not only increasing living standards in a country, but also increasing employee morale and inequality. The first minimal modern initiative occurred in Australia and New Zealand in the 1890s.

Countries With The Highest Minimum Wages

Luxembourg

In 2018, Luxembourg reached the highest minimum wage rate on the planet for $ 13.78 per hour for unskilled workers over the age of 18. Luxembourg’s minimum wage rate rose from $ 13.78 in 2018 to $ 14.12 in 2019. Legal working hours in Luxembourg are 8 hours a day and 40 hours a week. The minimum wage decreases by approximately 25% for individuals classified as adolescent workers (under the age of 18) and 20% for people classified as skilled workers. The minimum wages in Luxembourg are set according to the cost of living in the country. If the consumer-price index increases at a certain rate, salaries are regulated at the same rate.

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Australia

In Australia, most employees are covered by the Industrial Award, which varies according to industry, geographic location and employee age. The minimum wage for employees not covered by the award or agreement rose from $ 12.14 in 2018 to $ 13.47 an hour as of July 1, 2019. The figure determined by the Fair Work Commission does not include the compulsory retirement contribution of approximately 9.5% of an employee. annual wages. The minimum wage for workers under the age of 16 is usually 36.8% of the minimum wage over the age of 21.

France

The French government launched its first national minimum wage in 1950 with the Inter-Job Guaranteed Minimum Wage Act. French minimum wages are updated annually by the government, and this increase can never be less than that year’s price inflation. The French minimum salary rose from $ 11.66 in 2018 to $ 11.83 in 2019.

New Zealand

When New Zealand enacted the Industry-Reconciliation and Arbitration Act, it became the first state to bring a minimum wage in 1894. The current minimum wage law is described in the 1983 Minimum Wage Law. The minimum wage for employees in New Zealand rose from $ 11.66 in 2018 to $ 12.55 in 2019. Minimum wages for individuals aged 16 and 17 cannot be less than 80% of the wages of individuals over the age of 18. old.

The History Of Minimum Wages

Current minimum wage bills can follow their roots up to 1349 Labor Regulation, which sets the maximum salaries for employees in medieval England. King Edward III was a wealthy landowner who ran serfs to his land. Everything worked perfectly until the fall of 1348, when the Great Plague broke down the UK population and resulted in a serious labor shortage. The shortage of jobs led to an increase in wages, which prompted the king to lay the salary ceiling. The pay ceiling was determined by the Justice of Peace in the Kingdom (JP). As time went on, JP started setting a minimum wage. The minimum wage setting practice was officially adopted by the King James I in 1604 for the textile industry.