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An amount of money paid each hour to compensate an employee for the amount of time he/she spends working. Wages are paid for both skilled and unskilled labor. For example, one may pay an employee $8 per hour for working at a fast food restaurant or $45 per hour for highly trained work at a car factory. What distinguishes wages from salaries is the fact that wages are only paid for the hours worked; an employee is paid more if he works for more hours. Salaries, on the other hand, are the same whether one works five hours or 50. See also: Overtime, Minimum Wage.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved


the money payment made to a worker, usually on a weekly basis, for the use of his or her labour. A worker's basic wage will depend on the hourly WAGE RATE and the number of hours worked. The latter is usually related to the number of hours specified as constituting the ‘basic'working week, but in some cases workers may be given a GUARANTEED BASIC WAGE to protect them against loss of earnings due to short-time working, and in other cases workers may be able to add to their basic wage by OVERTIME earnings. In addition to PAYMENT BY TIME, workers may be paid in proportion to their output under a PAYMENT BY RESULTS scheme. See PAY, MEASURED DAY WORK.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson


the PAY made to an employee for the use of his or her LABOUR as a FACTOR OF PRODUCTION. Wages are usually paid on a weekly basis, and they depend on the hourly WAGE RATE and the number of hours that constitute the basic working week. In addition, employees can add to their basic wage by working OVERTIME.

As an alternative to workers being paid on the basis of hours worked (a ‘payment by time’ system), employees may be paid in proportion to their output (a ‘payment by results’ system).

In aggregate terms, wages are a source of income and are included as a part of NATIONAL INCOME. See SALARY, NATIONAL INCOME ACCOUNTS.

Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
(36) Toronto's 1846 Act of Incorporation was amended, widening the possible reach of control and coercion that could be deployed against the wageless by providing for the establishment of an industrial farm to complement the already existing House of Industry, which drew, from 1839 onwards, not only on private donations but on annual provincial grants.
Small wonder that the oscillating reciprocities of waged and wageless life instilled in those undergoing proletarianization a recurrent sense of grievance.
Recognizing that their wageless plight was "the effect of 'the crisis' upon the shipbuilding interest," the demonstrations of the workless, however moderate and often contradictory (rejecting alms they could also plead for bread and charitable relief from sources of government or private citizens), generated a mixed response on the part of the powerful.
As the wageless proliferated, those afflicted by it organized and resisted, their consciousness and activism challenging both the increasingly oppressive conditions imposed upon them by economic depression and the pressures towards compulsion that were inevitably at work in a relief order that could not accommodate the expanding numbers of indigent families and out-of-work labourers.
Since waged life was never entirely separable from wageless life, the articulation of proletarian interests through organizations of labour, demands for improved conditions in workplaces, and the withdrawal of waged services, it follows that further expressions of working-class protest would also surface, not at the point of production, but against the coercions of non-production.
The ideological assault on the wageless went into overdrive.
Urging the wageless to refuse both the symbolism and the substance of the discipline of "cracking the stone", he railed against the quality of the House of Industry's provisions: "I advise you men to go there," he told the wageless, "not with the intention of breaking stone but of stealing a loaf of bread.
The wageless, whatever their station, wanted the abolition of the civic relief department; the establishment of "running baths" for workmen; daily fare composed of more than eleven-cent-a-day servings of adulterated soup and stale bread; provision of adequate and warmer clothing in winter; investigation of the bread depots so that there was monitoring of their activities and assurances that distressed families would not suffer; and, finally, and most strikingly, taking control of the distribution of relief out of the hands of the Associated Charities of Toronto and vesting it in the committee of the unemployed.
Decimating the trade unions, whose numbers in Ontario dropped 25 per cent, and straining the disciplinary order of relief to the breakpoint, the crisis of 1913-1914 left the waged and the wageless in the same sinking boat of capitalist crisis.
Toronto's wageless thus faced an uphill battle in the crisis of 1911-1915.
Defiant resistance was difficult to mount in these circumstances, especially as inducements to patriotic duty were everywhere and often overrode understandings of the class solidarities of the waged and the wageless. In a January 1915 fund-raising entertainment at Massey Hall, organized by the Toronto District Labor Council on behalf of the unemployed, the message of the necessity of fighting against wagelessness was drowned out in dutiful renditions of "The Death of Nelson" and "We'll Never Let the Old Flag Down," the evening being capped off by a recitation of "The Empire Flag," the address delivered by a speaker wrapped in the Union Jack.
Labour, having tasted the possibilities of full employment during wartime, providing waged and wageless to the battlefront lines, both domestically and in the European theatre, was in a combative mood.