Minimum Wage

Minimum wage is the legally mandated lowest hourly, daily, or monthly wage that an employer is required to pay employees. It is set by government regulations to ensure that workers receive fair compensation for their labor, helping to prevent exploitation and reduce poverty. The minimum wage varies by country, region, and sometimes industry, reflecting local economic conditions and cost of living. It serves as a baseline for wages, aiming to protect low-income workers while promoting a fair standard of living. Regular reviews and adjustments are often made to account for inflation and economic changes.