The Minimum Wage

Minimum wage is the lowest amount of pay that employers are legally required to give their workers for each hour of work. It’s set by governments to ensure workers can earn enough to cover basic living expenses and to promote fair pay. Employers cannot pay employees less than this amount, although wages above the minimum are common. The goal is to protect workers from exploitation while balancing the needs of businesses and the economy. Minimum wage rates can vary by region and are periodically reviewed and adjusted based on factors like inflation and living costs.