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Columbia Encyclopedia entry: minimum wage
Minimum wage, lowest wage legally permitted in an industry or in a government or other organization. The goal in establishing minimum wages has been to assure wage earners a standard of living above the lowest permitted by health and decency. The minimum has been set by labor unions through collective bargaining, by arbitration, by board action, and, finally, by legislation. Introduced (1894) in New Zealand through compulsory arbitration, it has become part of the social legislation of almost all countries. Although federal minimum-wage laws were at first held unconstitutional in the United States, a strong fight by organized labor for enactment culminated in the passage (1938) of the Fair Labor Standards Act, which set minimum wages at $.25 per hour for workers engaged in interstate commerce (with some exceptions); the act also set up industry committees to recommend rates for every industry. In 1950 the minimum wage was raised to $.75 per hour. Thereafter, it was raised several times (for example, in 1956 to $1.00, in 1963 to $1.25, and in 1968 to $1.60). In 1974, Congress passed a bill providing for a gradual increase from the prevailing $1.60 per hour to $2.30 per hour by 1976. The bill also extended minimum-wage rules to some 8 million workers not previously covered, including state and local government employees, most domestic workers, and some employees of chain stores. Additional increases raised the minimum wage to $3.10 per hour (1980), $4.25 (1991), and $5.15 (1997). Legislation passed in 2007 raised the minimum wage, in three stages, to $7.25 in 2009. Since 1989 businesses earning less than $500,000 annually have not been subject to minimum-wage rules. A number of states have minimun wages that are higher than the federal minimum wage. See also wages.

See S. Richardson, The Minimum Wage (1927); G. F. Starr, Minimum Wage Fixing: An International Review of Practices and Problems (1981); S. Rottenberg, The Economics of Legal Minimum Wages (1982).

Wikipedia search results for: Minimum wage
From Wikipedia, the free encyclopedia
A minimum wage is the lowest hourly, daily or monthly wage that employers may legally pay to employees or workers. Equivalently, it is the lowest wage at which workers may sell their labor. Although minimum wage laws are in effect in a great many jurisdictions, there are differences of opinion about the benefits and drawbacks of a minimum wage. Supporters of the minimum wage say that it increases the standard of living of workers and reduces poverty. http://www.epi.org/content.cfm/issueguides_minwage Real Value of the Minimum Wage Opponents say that if it is high enough to be effective, it increases unemployment, particularly among workers with very low...more »
Columbia Encyclopedia search results: minimum wage
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  • wages

    Wages, payment received by an employee in exchange for labor. It may be in goods or services but is customarily in money. The term in a broad sense refers to what is received in any way for la...

  • living wage

    Living wage, the hourly wage that, at a minimum, supports a standard of living above the poverty level in a given locality. It differs from the minimum wage, which often provides a less than a...

  • Fair Labor Standards Act

    Fair Labor Standards Act or Wages and Hours Act, passed by the U.S. Congress in 1938 to establish minimum living standards for workers engaged directly or indirectly in interstate commerce, in...

  • Consumers' League, National

    Consumers' League, National, organization designed to promote better conditions among workers by encouraging the purchase of articles made and sold under improved working conditions. The movem...

  • Macarthur, Mary Reid

    Macarthur, Mary Reid, 1880–1921, British labor organizer, b. Glasgow, Scotland. Working in her father's draper's shop, she became prominent in the shop assistants' union. As the representative...

  • piecework

    Piecework, work for which the laborer is paid on the basis of the amount of work done. The system is best adapted to standardized operations in which quantity is preferred to quality. Its advo...

  • Jones, Samuel Milton

    Jones, Samuel Milton, 1846–1904, American political reformer, known as Golden Rule Jones, b. Wales. He was brought to America as a child and worked in the oil fields of Pennsylvania and Ohio. ...

  • Labor, United States Department of

    Labor, United States Department of, federal executive department established in 1913 and charged with administering and enforcing statutes that promote the welfare of U.S. wage earners, improv...

  • labor law

    Labor law, legislation dealing with human beings in their capacity as workers or wage earners. The Industrial Revolution, by introducing the machine and factory production, greatly expanded th...

  • Lukashenko, Aleksandr Grigoryevich

    Lukashenko, Aleksandr Grigoryevich, Belarusian Alyaksandr Ryhoravich Lukashenka, 1954–, Belarusian politician, president of Belarus (1994–), b. Kopys. A graduate of the Mogilev Teaching Instit...

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