A National Minimum Wage

A national minimum wage is the lowest amount an employer can legally pay their workers for an hour of work. It is established by the government to ensure that all employees receive fair compensation and can meet basic living expenses. The goal is to reduce poverty and inequality by providing a safety net for low-paid workers. The minimum wage can vary by country and may be adjusted periodically to reflect changes in the cost of living. While it aims to protect workers, it can also impact businesses and employment rates, leading to ongoing debates about its effects on the economy.