prevailing wage

Prevailing wage refers to the average wages paid to workers in a specific area and occupation, often set by government agencies. It ensures workers on public projects receive fair pay comparable to what others earn locally for similar work. This practice helps prevent underpayment and encourages qualified workers to participate in government-funded construction or service projects. Essentially, prevailing wage acts as a benchmark, promoting fair wages and fostering quality workmanship by reflecting current local labor market conditions.