Wage Regulation

Wage regulation refers to the rules and policies set by governments or authorities to determine minimum wages employers must pay workers. Its purpose is to ensure fair compensation, prevent exploitation, and maintain a standard of living for employees. These regulations can vary by sector, region, or economic conditions, and sometimes include provisions for overtime, raises, and working hours. By regulating wages, authorities aim to balance the interests of workers and employers, promote economic stability, and reduce income inequality.