Monday, July 17, 2006

Minimum Wages in OECD countries.

The European Tribune posted this interesting OECD statistic on minimum wage in 21 countries (in US $):


What is striking is that France has one of the highest rates (only second to Luxemburg) at $9.25. Is that a good thing? Not sure. But it says a lot about the French social and political model. Notice too that the minimum wage in the US, as adjusted for inflation, has gone DOWN steadily over the period covered, a feat matched only by Mexico and Turkey. Nothing against the Mexicans or Turks, but in the realm of economic indicators, perhaps this wasn't the company the US intended to keep. Or wait, this is just about the worker, isn't it. My bad. It's company profits that we should be worried about.

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