wage floor

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floor below which wages are not allowed to fall

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Since the implementation of wage floors in the United States in 1938 (United States Department of Labor Wage and Hour Division) those and similar jobs have disappeared from existence, meaning a net loss for the economy through the reduction in the gains from trade realized through the law of voluntary exchange (8).
50 fundamentally changes the dynamics of the debate over the state's wage floor.
11) In Denmark, the social partners agree on a national minimum wage floor, which is enforced by unions and employers.
Wage floors result in a high minimum labour cost, thereby reducing employment
But the notion of requiring minimum wage floors on other types of service contracts is relatively new.
Frequently, cities impose wage floors only on companies under contract (generally including non-profits) with the city.
In fiscal 2000, the ministry set daily wage floors for 248 industrial sectors nationwide.
16] To the extent that employers' wage offers are constrained by minimum wage floors or that important variables have been omitted from the wage equation, our estimates may understate or overstate the employment effects.
Unemployment and nonparticipation in the labor force are common among young Africans but rare among whites, suggesting that "underemployment" of Africans could be exacerbated by union-negotiated wage floors that Industrial Councils may enforce.
Yet, in countries where the incidence of low pay is comparatively low, it is probable that higher levels of minimum wages, broader collective bargaining coverage, greater trade union density, and higher wage floors created by higher unemployment and other benefits, exist.
In his analysis, wage floors (in other words, minimum wage laws) are just an easy way for politicians to garner votes by showing their concern without addressing real problems, especially in education.
Although there is no national minimum wage, wage floors determined in sectoral wage agreements may have a similar effect, with potentially adverse effects on the employment of younger workers, particularly given the interaction with the high tax wedge.
50 (what the federal minimum wage would be if its value had not been eroded by inflation over the past three decades), the movement is now setting its sights higher, seeking wage floors as high as $12 an hour, or close to what the federal minimum wage would be today if it had also been adjusted for increases in productivity since the late 1960s.
These are most likely to occur in markets where wage floors prevent employers from expressing tastes for discrimination in the form of wage differentials.