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A minimum wage is the lowest remuneration that employers can legally pay their employees—the price floor below which employees may not sell their labor. Most countries had introduced minimum wage legislation by the end of the 20th century. [2] Because minimum wages increase the cost of labor, companies often try to avoid minimum wage laws by ...
The federal minimum wage in the United States has been $7.25 per hour since July 2009, the last time Congress raised it. [45] Some types of labor are exempt: Employers may pay tipped labor a minimum of $2.13 per hour, as long as the hour wage plus tip income equals at least the minimum wage.
Living wage. A living wage is defined as the minimum income necessary for a worker to meet their basic needs. [3] This is not the same as a subsistence wage, which refers to a biological minimum, or a solidarity wage, which refers to a minimum wage tracking labor productivity. Needs are defined to include food, housing, and other essential ...
Contribution margin (CM), or dollar contribution per unit, is the selling price per unit minus the variable cost per unit. "Contribution" represents the portion of sales revenue that is not consumed by variable costs and so contributes to the coverage of fixed costs.
Poverty threshold. Graph of global population living on under 1, 1.25 and 2 equivalent of 2005 US dollars daily (red) and as a proportion of world population (blue) based on 1981–2008 World Bank data [needs update] Poverty thresholds for 2013. The poverty threshold, poverty limit, poverty line, or breadline [1] is the minimum level of income ...
How does the 50/30/20 rule work? It’s easiest to explain how the 50/30/20 budgeting rule works by using an example.
Minimum wage law Minimum wage law is the body of law which prohibits employers from hiring employees or workers for less than a given hourly, daily or monthly minimum wage. More than 90% of all countries have some kind of minimum wage legislation. [1]
A salary is a fixed amount of money or compensation paid to an employee by an employer in return for work performed. Salary is commonly paid in fixed intervals, for example, monthly payments of one-twelfth of the annual salary.