Wage Floor


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Wage Floor

The lowest possible wage within a wage bracket, which is the range of potential wages offered to a person with a given job description. For example, if a wage bracket is $12 to $15 per hour, the wage floor is $12.
References in periodicals archive ?
Mr D'Arcy added: "With the Low Pay Commission playing such a critical role in ensuring the success of the minimum wage over the past 16 years, the Chancellor must ensure it continues to steward the UK's ambitious new wage floor.
But the notion of requiring minimum wage floors on other types of service contracts is relatively new.
16] To the extent that employers' wage offers are constrained by minimum wage floors or that important variables have been omitted from the wage equation, our estimates may understate or overstate the employment effects.
Similarly, if a wage floor already exists, raising it must lower employment.
Sectors like contract cleaning would benefit from having a higher wage floor and help with improving productivity, so that the good can learn from the best - without being undercut by the bad.
First, like everyone, they will pay the higher prices that will result from setting a higher wage floor -- and will be more adversely affected thereby, since studies also show lower-income workers spend more income on consumption.
19262, August 2013, revised December 2013) economists Jonathan Meer and Jeremy West assert that the current literature on the minimum wage lacks concrete findings on how a wage floor impacts employment dynamics.
An even higher wage floor would be good for workers and our state.
And as our economy continues its shift toward low-wage jobs -- with the job growth since the recession being disproportionately driven by low-wage jobs like home health care, child care and retail -- we need a strong wage floor to make sure the workers and their families that are relying on these jobs more than ever can support themselves.
And as union wages increased, so did non-union wages, since union contracts raised the wage floor in our free market for labor.
Sheila Attwood, editor of IRS's pay and benefits bulletin, said, 'Next month's increase in the national minimum wage will have an impact on the retail sector, as some employers continue to operate their lowest rate at or just above the wage floor.