What is the minimum wage?

The minimum wage is the lowest amount an employer can legally pay their employees per hour of work. This amount varies by country and region, and is usually set by the government. The minimum wage is intended to ensure that workers receive a fair wage for their work, and to prevent employers from taking advantage of their employees. In some countries, there are different minimum wage rates for different types of workers, such as young workers or those in certain industries. While the minimum wage can help improve the lives of low-income workers, some critics argue that it can also lead to higher unemployment rates or reduced hours for workers as employers try to cut costs.

This mind map was published on 18 April 2023 and has been viewed 61 times.