Wage Floor


Also found in: Dictionary, Thesaurus, Legal, Encyclopedia, Wikipedia.

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 ?
The purpose of section III is to review the case for concluding that wage floors increase crime rates.
But it will take more than a higher wage floor to tackle Britain's low-pay problem.
But with the economy getting stronger, the vast majority of employers should be able to afford the new higher wage floor, which will allow their lowest-paid staff to share in the recovery.
When the task force returned with its recommendations in July, not only had the discriminatory franchise provisions of the wage proposal been removed, but the wage floor itself had been lowered.
As of March, the Garment Manufacturers Association in Cambodia (GMAC) and several workers unions had yet to come to an agreement during wage talks that would bring up the wage floor for workers from $66 per month.
As in Australia, whilst maintaining a centrally-determined minimum wage floor for unskilled work, the 1992 and 2000 decisions 'deregulated' or decentralised collective bargaining to workplace-level negotiations between employers and employee organisations or individuals.
The wage floor is largely due to the high rate of unionization in the public sector; the "union premium"--the amount by which union wages exceed non-union wages--is also greater in the private sector for less-educated and lower-skilled workers.
11) In Denmark, the social partners agree on a national minimum wage floor, which is enforced by unions and employers.
However, Mr Miliband insisted his plans would not result in a lower legal wage floor in the North, adding: "It's up to others what they want to campaign for in other parts of the country - I'm not setting rates.
One reason is that with a high wage floor and stringent employment protection rules, strong skills are required to get a regular job.
The labor movement has stepped into this void, partnering with community organizations and law-abiding employers, creating relationships with state departments of labor and attorneys general, and supporting private labor standards enforcement models to shore up the wage floor for all workers.