Opportunities and risks of a global minimum wage - Is a global minimum wage feasible? Labour market researcher Ralf Himmelreicher says yes, but the hurdles are high and it would not only have advantages
by Ralf Himmelreicher
News from Aug 02, 2022
In: Zeitgeister, Goethe-Institut
According to the International Labour Office (ILO), over a hundred and therefore more than half of all countries in the world had national minimum wage regulations in 2020. In other words, each of these independent countries has a statutory minimum wage, which, however, varies widely in amount and level from one country to another. The countries without a minimum wage are mostly in the Global South, but they also include a few Scandinavian countries and Austria. In Austria, wages in the lower wage groups are by large negotiated through collective agreements, so there is no need for a state-imposed minimum wage. Ideally, the chance of a global minimum wage would lie in the fact that after its introduction there should not be a single employee worldwide who would be paid below this defined wage threshold. Read more.