NMW (National Minimum Wage)

The National Minimum Wage (NMW) is the lowest amount of pay that employers are legally required to give their employees per hour of work in a country. It aims to ensure workers earn a fair minimum, helping to reduce poverty and protect vulnerable workers from being paid too little. The rate can vary depending on factors like age and employment status. Employers cannot pay less than this set minimum, and governments regularly review and adjust the NMW to reflect economic conditions and living costs. It’s a key labor standard to promote fair compensation across the workforce.