Workers who earn a minimum wage today are paid around 27% less than their counterparts almost 50 years ago. However, minimum wage rates often increase during the course of a year, so a point-in-time comparison is misleading. Paris The fact that Switzerland and Austria have no minimum wage should not be taken to mean they have low wages. While Switzerland has no official minimum wage,a majority of the voluntary collective bargaining agreements contain clauses on minimum compensation,ranging from 2,200 to 4,200 francs per month for unskilled workers and from 2,800 to 5,300 francs per month for skilled employees. Switzerland's minimum wage was last changed in Jan-1-2014. Accordingly the national minimum wage has been raised 18.2 Euros per month from the previous year, 1.2%. The minimum salary in Singapore as of July 2020 for cleaners is at 1,236 SGD, or roughly 915 USD. Minimum-wage workers make more money working in France or Australia than they do in the United States. As Tokyo is the wealthiest city in the country, it has also the highest minimum hourly wage in the country. However, there’s a catch-after converting it into US dollars. Countries with a higher minimum wage than the United States’ $7.25 an hour include Denmark at $21, Australia at $15.81, Germany at $11 and France at $12.35. In the long-term, the Argentina Minimum Monthly Wage is projected to trend around 17500.00 ARS/Month in 2021 and 19000.00 ARS/Month in 2022, according to our econometric models. France, for its part, introduced its minimum wage substantially later in 1950. The minimum wage had its strongest purchasing power in 1968, equivalent to $11.65 an hour in 2018 dollars. Browse. That puts their statutory minimum wage at around $12.07 per hour. Fact Check: In France, the minimum wage has been rising in real terms in the last five decades. World. Minimum wages in Japan are set by hourly rates, and each prefecture has a different value. The rate varies by region and occupation. Every year after that, the minimum wage would rise by $1 an hour until it hits $15 in 2026. Since 2005, the gross minimum wage per hour in France has been gradually increasing. The US has had a federal minimum wage since 1938 when the Fair Labor Standards Act was passed under FDR, legislating working hours and setting a national floor for wages. Looking forward, we estimate Minimum Wages in Argentina to stand at 17500.00 in 12 months time. Cuba. Find below Minimum Wage rates as gazetted in the country. Germany’s real hourly minimum wage: $10.30 USD; The statutory minimum hourly wage in Germany is about $10.10. Tourism, manufacture and agro exports are seeing this country’s economy boom. The reforms will make the biggest difference for women, who perform the bulk of part-time and temporary work. Annual federal minimum wage rates adjusted for inflation from 1955 to 2015. On July 18, 2019, the U.S. House of Representatives passed an amended version of the Raise the Wage Act of 2019, which would gradually increase the federal minimum wage … Instead, at 40 hours per week for 52 weeks, the minimum wage translates to $15,080 a year. 2019 minimum wage (14 payments): €900.00 per month; 2018 minimum wage (14 payments): €736.00 per month; 2017 minimum wage (14 payments): €707.60 per month; More than 5.5 million people in Spain earn the Spanish minimum wage. While the provinces of Qinghai and Fujian had announced their 2020 minimum wage increase last year, Guangxi is the only province to announce and implement an increase to their statutory wage after the coronavirus outbreak. I'm not going to make any kind of conclusions from this. Minimum wages in China continue to grow. * Gross minimum wage as of May 2018 (conversion into euros at th e December 2017 exchange rate for the United States, the United Kingdom and Japan). Presuming the median 38-hour workweek, that’s about $10.76 per hour. The state’s current hourly wage of $8.56 will rise to $10 next year. This increase is less than the CPI of 2019 which was 1.5%,and so workers, despite the raise, have lost buying power in the last year. But again I'm sure theres more to the story on many of the minimum wage figures. … Proving that a minimum wage alone does not solve poverty, Mexico has long had the lowest minimum wage in the OECD, at a measly $0.80 an hour. Today, the federal minimum wage is $7.25, the same rate it's been since it was last raised in 2009. As of July 1, 2015, minimum wage will increase to $10 per hour , and then to $13 in 2016. Minimum Salary in Tokyo, Japan. Between 1951 and 1994, the French minimum wage rose from 1.95 francs an hour to 6.92 francs an hour in 1994, both measured in 1970 francs, an increase of 255 percent. Chicago's minimum wage is more than a dollar above the federal wage of $7.25. Australias minimum wage seems pretty high at $14.88 USD/hr. 1. As of 2020, the minimum hourly wage for the Tokyo prefecture is of 985 yen. France Minimum Wage. Prince Edward Island’s minimum wage went from $10.35 on January 1 to $10.50 on July 1. The following list provides information relating to the minimum wages (gross) of countries in Europe.. The minimum wage dropped by nearly 20 percent between 2008, when the crisis started, and 2016. In June 2005, the gross minimum wage per hour in France amounted to 8.03 euros. Not only does France boast the highest minimum wage in the entire OECD, but the French enjoy a 35-hour workweek. France’s real hourly minimum wage: $11.20 USD; The current statutory minimum wage in France is roughly the equivalent of $1,690 per month. On average, a Cuban can expect minimum wage … The hourly minimum wage in Australia is US$14.14, Luxembourg at US$13.14 per hour, New Zealand at US$11.28 per hour, France at US$11.24 per hour, while the Netherlands offers US$11.01. The calculations are based on the assumption of a 40-hour working week and a 52-week year, with the exceptions of France (35 hours), San Marino (37.5 hours), Belgium (38 hours), United Kingdom (38.1 hours), Ireland (39 hours), Monaco (39 hours), and Germany (39.1 hours). If the minimum wage had been raised since 1968 at the same growth rate as average wages of typical U.S. workers, it would be $11.62 today. In 2020, the national minimum wage in France remained fixed at 1,539.4 € per month, that is 18,473 euros per year, taking into account 12 payments per year. Cost of Living in France: Sample Monthly Budget. Thanks to the WageIndicator teams these pages are up to date and international comparable. In 2018 a minimum wage worker in Mexico took home just over $2,000, around a tenth of the salary earned by minimum wage workers in France, the U. The island state, Cuba in the Caribbean Sea has the third lowest minimum wage in the world. 3. In 2015, Newfoundland and Labrador increased its minimum wage from $10.25 an hour as of January 1 to $10.50 on October 1. This figure is helpful to understand the lowest market salaries currently available among the Singaporean labor force. While the average annual … Some workers were only eligible for a second, lower minimum wage equal to $8.37 an hour today. Always in English and the national language. wine) $600: Landline rental fee (excluding call costs) $21: Since then the average wage in France has been increasing, despite a slight period of stagnation between 2006 and 2008. Currently, that’s the equivalent of about $7.26 an hour. Table A shows why. The French minimum wage in 1994, measured in 1997 dollars, was over $6.50 an hour. Scroll over CNN’s interactive chart to see the minimum wage by year, through history. However, its minimum wage stands at just $120 per year. The US minimum wage, which started at 25 cents in 1938, has been raised by Congress 22 times. The highest year-to-year increase in the minimum wage was noted in Nigeria at 65% in 2020, compared to 2019. To give you an idea of how much you might spend in a month, here are the costs for running an apartment for two people: Expenses U.S. $ Rent: $800 to $1,200: Electricity: $48: Groceries (incl. Box 1: "Ein-Euro-Jobs" in Germany "Ein-Euro-Jobs" (One-Euro-Jobs) are a special category of jobs that are not subject to the German minimum wage. So far, in 2020, Fujian, Qinghai, and Guangxi have raised their minimum wages.