somebody is posting without a frikkin clue...^
in Germany. In sectors covered by generally binding collective agreements, less than 8.84 euros per hour can still be paid until 31 December 2017and in laundry services for commercial clients and the meat processing industry (8.75 euros). Minimum Wages in Germany averaged 8.61 EUR/Hour from 2015 until 2017, reaching an all time high of 8.84 EUR/Hour in 2017 and a record low of 8.50 EUR/Hour in 2016.
Germany Gross Minimum Wages | 2015-2017 | Data | Chart | Calendar (external - login to view)
8.84 EUR = 9.38 USD
https://themoneyconverter.com/EUR/USD.aspx (external - login to view)
Voters in Arizona, Colorado, Maine, and Washington approved November ballot measures to raise their respective minimum wages. Arizona, Colorado, and Maine will incrementally increase their minimum wages to $12 an hour by 2020. Washington's will be increased incrementally to $13.50 an hour by 2020.
New York became the second state to pass a new law that would raise the minimum wage in New York City to $15 per hour by the end of 2018. Washington D.C. followed suit, enacting a law to raise the minimum wage in the District to $15 per hour by July 1, 2020.
www.ncsl.org/research/labor-a...age-chart.aspx (external - login to view)
AUSTRALIA AND THE USA: A SIMPLE COMPARISON
A simple comparison of the reported minimum wage rates and unemployment rates in Australia and the USA show that, prima facie (at first glance)
, Australia has a higher minimum wage and lower unemployment
Are things really topsy-turvy down-under? Since people in Australia are already walking upside down on the bottom of the Earth, do the laws of economics operate upside down also? Does the minimum wage in Australia lead to more employment, instead of less?
In light of recent debate over minimum wages, referring to the situation in Australia, one might be tempted to believe that the answer is “yes.”
Some commentators have argued, contrary to prevailing economic theory, that the minimum wage can actually increase employment, owing to additional “money in the pockets” of workers flowing on to greater spending in the economy, which in turn causes greater demand for goods and services, and more employment for workers.
Some have attempted to bolster this argument by pointing to the high minimum wage and low unemployment rate in Australia as evidence that the policy either does not cause unemployment, or possibly even increases employment. If only other countries could be more like Australia, where the beer is cold, the women run around in bikinis, and the minimum wage and employment levels are both high!
AUSTRALIA AND THE USA: A SIMPLE COMPARISON
A simple comparison of the reported minimum wage rates and unemployment rates in Australia and the USA show that, prima facie (at first glance), Australia has a higher minimum wage and lower unemployment.
Even after conversion of the minimum wage into equivalent currencies, or equivalent purchasing power, the higher minimum wage in Australia still holds. This simple comparison tells the story of an Australian economy with greater employment and higher minimum wages than in the US.
However, as with many superficial comparisons of this kind, there is a lot more to the story that must be understood.
First of all, the rosy picture of employment in Australia ignores a great many statistical issues that take certain kinds of unemployment and underemployment out of the official figure.
Second, the minimum wage in Australia is exaggerated somewhat by the above figure, since its application to low-skilled groups is tempered substantially, using a sliding scale of rates that reduces the hallmark figure for the main groups affected by the policy.
Finally, there is the simple fact that basic comparisons of this kind do not get to the root of the causal effects of a policy like minimum wages—economic comparisons must occur ceteris paribus (all other things being equal).
When one takes account of these various issues, the reality of economic law is brought back into focus, and the situation in Australia is neither unusual nor inspirational
https://www.mises.ca/the-minimum-wag...-in-australia/ (external - login to view)
if you can't do....teach
Last edited by Danbones; 1 week ago at 05:44 AM..