Minimum Wage Legislation

Minimum wage legislation sets a legal lowest pay rate that employers must provide to workers. Its aim is to ensure fair compensation, reduce poverty, and improve living standards for low-income employees. By establishing this baseline, governments try to protect workers from exploitation and create a more equitable labor market. Minimum wage rates can vary by region, job type, and age, and are adjusted periodically to reflect economic conditions. While supporters argue it helps workers, critics claim it could lead to job losses or increased prices as businesses adapt to higher labor costs.