The minimum wage around the world
The Organization for Economic Cooperation and Development (OECD), an international policy group that monitors and analyzes 34 countries, recently tweeted the following chart:
It illustrates the after-tax value of the hourly minimum wage, in US dollars, in the OECD countries that have instituted one.
Australia and Luxembourg lead the group with wages over $9 an hour each, and Latvia and Mexico are at the bottom with wages under $2.
The US, where the federal minimum wage is $7.25 per hour, or $6.26 after taxes, ranks 11th.
Broken down by state, however, there is some variation among the 45 states that require a minimum wage, ranging from $9.05 per hour in Washington, DC, to $5.15 an hour in Georgia and Wyoming. The Guardian reported that 21 states raised the minimum wage in 2015, and multiple states have begun the process of raising their minimum wages to $10.10 an hour.
Business Insider's Myles Udland reported that the US government currently spends $152.8 billion a year supporting working families who are paid so little they're still in need of assistance.
Next Story
I spent 2 weeks in India. A highlight was visiting a small mountain town so beautiful it didn't seem real. 
I quit McKinsey after 1.5 years. I was making over $200k but my mental health was shattered.
Some Tesla factory workers realized they were laid off when security scanned their badges and sent them back on shuttles, sources say
Top places to visit in Auli in 2024
Sustainable Transportation Alternatives
Why are so many elite coaches moving to Western countries?
Global GDP to face a 19% decline by 2050 due to climate change, study projects
5 things to keep in mind before taking a personal loan
