A decent minumum wage is a strong indicator of a country’s commitment to maintaining a fair standard of living for its citizens. Evidence suggests enacting a minimum wage reduces poverty, boosts workplace morale, and increases equality.
Interestingly though, Germany, which has one of the most robust economies in the world, didn’t introduce a minimum wage until earlier this year.
So there’s certainly a strong opposition to the concept.
A graph released by The Organization for Economic Cooperation and Development (OECD) highlights which countries are most willing (and able) to fulfill this commitment. It illustrates the after-tax value of the hourly minimum wage, in US dollars, in the OECD countries that have instituted one.
Unsurprisingly, countries with strong economies – Australia, the Netherlands, Canada, Germany, France – offer workers an acceptable minimum hourly wage, whereas those on the lower rungs of the GDP per capita ladder – Mexico, Chile, Hungary – can do little to lift its citizens out of poverty.
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