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.
- Welcome to the white-collar recession
- Singapore Airlines was ordered to pay a couple compensation for 'mental agony' after they complained their business-class seats didn't automatically recline
- A 101-year-old woman keeps getting mistaken for a baby on flights and says it's because American Airlines' booking system can't handle her age
- “Wish to follow in the footsteps of PM Modi!” ‘Anupamaa’ star Rupali Ganguly joins BJP
- “Wish to follow in the footsteps of PM Modi!” ‘Anupamaa’ star Rupali Ganguly joins BJP
- Assassin’s Creed Mirage on iPhone 15: Killer game to debut on Pro and iPad on June 6
- 5 worst cooking oils for your health
- From fiber to protein: 10 health benefits of including lentils in your diet