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It's actually the opposite of what you wrote. Minimum wage is precisely "minimum standard of living", not a "minimum value job". There's no such thing as a stan
by bsd44 5y ago
It's actually the opposite of what you wrote. Minimum wage is precisely "minimum standard of living", not a "minimum value job". There's no such thing as a standardised minimum wage for various types of job, every job has a different requirements that set the minimum wage. The reason why we (at least in Europe) set the minimum wage is to cover basic costs such as housing, health insurance and food or in other words basic costs of living.
- dragonwriter 5y ago> Minimum wage is precisely "minimum standard of living" No, its not. Because while it compels someone who employs you in a covered job to pay you a certain hourly wage, it doesn’t require anyone to employ you at all, nor does it require them to employ you for a minimum number of hours per (say) month if they do. It sets a floor on value of work for which it is economical to hire workers, but it does not set a floor on standard of living for the jurisdiction, or even for those employed in the jurisdiction.