Article Sources. Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy. Compare Accounts. The offers that appear in this table are from partnerships from which Investopedia receives compensation.
This compensation may impact how and where listings appear. Investopedia does not include all offers available in the marketplace. Related Articles. Budgeting Can a Family Survive on the U. Minimum Wage? Family Finances The Top 5 U. Cities With the Highest Minimum Wage. Microeconomics Minimum Wage by State. Partner Links. Efficiency wages occur when employers pay higher than the minimum to attract skilled workers, boost productivity, and increase loyalty.
What Is a Living Wage? Living wage refers to a theoretical wage level that allows an individual to afford adequate shelter, food, and other necessities.
What Is a Maximum Wage? A maximum wage is a price ceiling on compensation paid to employees. What Is a Minimum Wage? The minimum wage is a legally mandated price floor on hourly wages, below which nonexempt workers may not be offered or accept a job.
Positive Economics Positive economics is the study of economics based on objective analysis of what is occurring and what has been occurring in an economy. Investopedia is part of the Dotdash publishing family. Wages that are too low, by contrast, constrain domestic household consumption.
Other economic factors that can be considered include issues related to competitiveness, investment, prices, and economic growth. Labour productivity provides contextual information on the market value of what is produced by an average worker in a country, given existing levels of capital and technology.
Data on sector-level productivity is also useful when minimum wages are set at different levels in different industries. However, in some sectors, measuring labour productivity is problematic. For example, quantifying the value added in the education sector or in domestic work are particular challenges. In Brazil, the legislation places price inflation and GDP growth in a mathematical formula for minimum wage adjustment. Other countries, such as Costa Rica, increase the minimum wage by inflation plus a share of past economic growth.
Blackburn, and Chad D. Bhatia, Rajiv. Borgschulte, Mark, and Heepyung Cho. Bullinger, Lindsey Rose. July Cooper, David. Du, Juan, and J. Paul Leigh. Dube, Arindrajit. November Analysis of the Raise the Wage Act , forthcoming. Why the U. Workers and Their Families fact sheet , January Hampton, Matt, and Evan Totty. Leigh, J. Paul, Wesley Leigh, and Juan Du. October Neumark, David, and Peter Shirley.
Reich, Michael, and Rachel West. Rice, Douglas. Center on Budget and Policy Priorities, February
0コメント