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The labor code allows the government to set a minimum hourly wage; however, the government has not exercised this provision except for setting the minimum wage for domestic workers at FG 440,000 (US$62) per month. [10] 48 2017 Guinea-Bissau: CFA 19,030 (US$30) per month plus a bag of rice [96] 412: 935. 45 0.18: 0.4. 58.1 % 2017 Guyana
New Zealand was the first country to implement a national minimum wage, enacted by its government through the Industrial Conciliation and Arbitration Act 1894. [6] Current minimum wage law is described in the Minimum Wage Act 1983. The Minimum Wage (New Entrants) Amendment Act 2007 provided that the rates for 16- to 17-year-olds and those in ...
As of April 2000, the government introduced a national minimum wage of €5.58 per hour. The minimum wage increased regularly in the period from 2000 to 2007 and reached €8.65 per hour in July 2007. As the global economic downturn hit the country in 2008, there was no further wage increases until 2016 when the minimum wage was increased to 9.15.
A government-set minimum wage is a price floor on the price of labour. A price floor is a government- or group-imposed price control or limit on how low a price can be charged for a product, [24] good, commodity, or service. A price floor must be higher than the equilibrium price in order to be effective. The equilibrium price, commonly called ...
Wages Councils were abolished in 1993 and subsequently replaced with a single statutory national minimum wage by the National Minimum Wage Act 1998, which is still in force. The rates are reviewed each year by the country's Low Pay Commission. From 1 April 2016 the minimum wage has been paid as a mandatory National Living Wage for workers over ...
Colombia's minimum wage will increase by 12% in 2024, Labor Minister Gloria Ines Ramirez said on Friday, taking the figure to 1.3 million pesos ($340) per month. The increase in the minimum wage ...
On 14 December 2005, the Australian Fair Pay Commission was established under the Workplace Relations Amendment (WorkChoices) Act 2005.The responsibility of the commission includes the setting of the standard federal minimum wage, [4] replacing the role of the Australian Industrial Relations Commission that took submissions from a variety of sources to determine appropriate minimum wages.
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