On top of (an aged based) national minimum wage, pay is also governed by an “award” by industrial sector. Most workers are covered by an award, varied by age, location and industry.
From the 1st of July 2014, there will be a 3% increase to minimum wages. The new national minimum wage will now be $640.90 per week or $16.87 per hour.
Switzerland – a land where voters rejected a national minimum wage
Switzerland actually does not have a minimum wage written into law.
But it does have collective bargaining agreements between its workers and management and almost the entire population is covered by it.
Under Collective Agreement, the minimum salary of skilled workers ranges from 2,800 to 5,300 Swiss francs, while that of unskilled workers may be anywhere between 2,200 to 4,200 Swiss francs.
In 2014, Swiss voters rejected the establishment of a minimum wage at $25 an hour.
Ireland (High Minimum wage)
Ireland has one of the highest minimum wage packages. It is also interesting to note that minimum wage Levels have not risen in Ireland since 2007. Experienced adult worker €8.65 per hour.
The unemployment rate in Ireland is equally shocking: at 11.8%. It has been bestowed the “fifth highest jobless levels” according to an OECD survey. Japan – minimum wage to fight deflation
Japan doesn’t have a problem with inflation. It has a problem with deflation.
Prime Minister Shinzo Abe has urged companies to finally raise wages to halt chronic deflation. However, real demand is unlikely to rise unless wages grow quickly enough to keep pace with the inflation he is trying to stoke.
Japan’s minimum wages range from Y642 to Y821 per hour for all workers. Industrial minimum wages applies for certain industries and usually set higher than the prefectural minimum wage.
If prefectural and industrial minimum wages differ, the higher of two will apply.
Japan’s labor law also states that the cost for commuting, extra pay (such as working on holidays, at night, overtime, etc.) and temporary pay (bonus, tips, etc.) must be paid additionally and cannot be used to calculate towards minimum wage.
Singapore has the Progressive Wage Model. We have written extensively on this topic. If you’re still curious what it is, why not have a look here?