This shows a comprehensive list of the highest minimum wage in the world. A minimum wage is the least expected pay that a worker is due to receive or is expected to receive. Due to the exploitative nature of some jobs, the wages received by the worker must commiserate with the work done, hence the emergence of the minimum wage concept.
The minimum wage has a regulatory body in almost all countries of the world. These bodies check the level of compliance by the heads of government and call for action when necessary. Minimum wage can be paid on an hourly, daily, weekly and monthly basis. This depends on the countries pattern of payment. However, this article brings to your perusal a list of the top 20 highest minimum wages in the world, indicating their actual minimum wage in an hour, annual earning of workers as well as the current population of each of the countries.
These countries have rules ensuring their workers receive the highest minimum wages in the world, according to a report by the Organization for Economic Co-operation and Development.
Here is the Top 20 Highest Minimum Wage in the World
|S/N||Country||Hourly Minimum Wage||Worker’s Annual Earnings||Current Population|
Also Read: Highest minimum wage in Africa
Antagonists of good minimum wage believe that it increases poverty, increases unemployment because low-wage workers will be unable to find work, and damages businesses because the wage requirements will cause businesses to raise prices of their product and service to accommodate the cost of labor.
Enthusiasts of the good minimum wage have deviant views about it, claiming that it increases the standard of living for workers and reduces poverty, as well as reduces inequality and boosts employee morale.