Minimum Wage Adjustment

Minimum wage adjustment refers to the periodic changes made to the lowest legal hourly wage that employers must pay their workers. These adjustments can occur due to factors like inflation, cost of living increases, or changes in economic conditions. The goal is to ensure that workers can maintain a decent standard of living as prices rise. Adjustments can be made by legislation or through initiatives, and they aim to balance fair compensation for employees while considering the impact on businesses and the economy.