Minimum wage definition. The minimum wage was designed to create a minimum standard of living to protect the health and well-being of employees. Learn about the history, coverage, calculation and components of minimum wages, and the ILO conventions and recommendations on this topic. Minimum wage is the lowest legal pay for workers, set by governments or unions. specifically : a wage fixed by legal authority or by contract as the least that may be paid either to employed persons generally or to a particular category of employed persons Learn about the federal and state minimum wage laws, enforcement, and compliance assistance. n. the smallest amount of money that employers are legally allowed to pay someone who works for…. 1 This definition refers to the binding nature of minimum wages, regardless of the method of fixing them. Minimum wages can be set by statute Aug 13, 2025 · The minimum-wage rate in Argentina is set through collective agreement by the National Council for Employment, Productivity and the Adjustable Minimum Living Wages, which includes an equal number of government, employer, and worker representatives. Others have argued that the primary purpose was to aid the lowest paid of the nation's working population, those who lacked sufficient bargaining power to secure for themselves a minimum subsistence wage. Minimum wage is the minimum amount of remuneration that an employer is required to pay wage earners for the work performed during a given period. Dec 3, 2015 · Minimum wages have been defined as “ the minimum amount of remuneration that an employer is required to pay wage earners for the work performed during a given period, which cannot be reduced by collective agreement or an individual contract ”. Find out the current minimum wage rate, how it is calculated, and who is covered by the Fair Labor Standards Act. S. Jan 29, 2025 · Minimum wage is the lowest hourly wage that employers must pay nonexempt workers, as established by federal law but subject to upward revision by state and local regulations. Learn about the history of minimum wage, the federal and state rates, and the categories of workers who are exempt from the law. Learn more. Learn about its origins, variations, benefits and drawbacks, and controversies. minimum wage synonyms, minimum wage pronunciation, minimum wage translation, English dictionary definition of minimum wage. Find out the current federal minimum wage, the arguments for and against raising it to $15, and the history of minimum wage in the U. Oct 5, 2023 · A comprehensive analysis of the concept and implications of minimum wage in economic theory and practice. Jan 31, 2022 · Learn what minimum wage is, how it affects workers and employers, and why it varies by country and age. Minimum wage is the lowest amount of money that employers are legally allowed to pay someone who works for them. Define minimum wage. The highest applicable minimum wage in any given . MINIMUM WAGE definition: 1. May 18, 2023 · A minimum wage is a legally mandated pay floor for non-exempt, hourly employees, and several different types exist — federal, state, and local. Learn more about the meaning, usage and history of minimum wage with Cambridge Dictionary. The lowest wage, determined by law or contract, that an employer may pay an employee for a specified job. qkcwmh vidn kkuqk zmiqudh jsjc kyr jlguk eusawrjjf apup ccrrt