National Minimum Wage

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National Minimum Wage - (adjective + noun)


This refers to the lowest rate of pay that employers in a particular country can legally pay their employees.


Source: Own Definition
Example of Use: Most EU Member States have a statutory national minimum wage in place, although its level, adjustment mechanisms and coverage vary. Austria, Denmark, Finland, Italy and Sweden have minimum wages set within collective agreements, while Cyprus has statutory rates for different occupations.