10 Countries with highest minimum wage in the world (2023)
With over 200 hundred nations across the globe and a population of over 7 billion people, the planet has tons of opportunities to provide a sustainable living for the numerous labour force scattered across the world. Countries act to ensure the living standards of their citizens are ensured. The basic duty of the government is to identify avenues to improve the overall standards of the people. To that end, countries set minimum wages to protect their labour force and ensure an increase in overall living standards.
Generally, the minimum wage of a country is expected to be the lowest wage a labourer can earn while working in the nation. The minimum wage is argued to provide the labourer with the basic amenities provided by the country.
This work looks at the top countries in the world with the highest minimum wages payable.
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Top 10 highest minimum wage paying countries
|1.||Australia||$14.54 per hour|
|2.||Luxembourg||$13.67 per hour|
|3.||New Zealand||$13.18 per hour|
|4.||Monaco||$11.88 per hour|
|5.||Ireland||$11.54 per hour|
|6.||France||$11.46 per hour|
|7.||United Kingdom||$11.37 per hour|
|8.||Netherlands||$11.21 per hour|
|9.||Belgium||$11.06 per capita|
|10.||Germany||$10.68 per hour|
Minimum age: $14.54 per hour
Australia is the world’s highest-paying country today. The country offers employees significant rights to work, which include a discrimination-free work environment, paid leave, pension, compensation, safe working facilities and others. The Australian labour laws also make it compulsory for employers to pay the minimum wage or above, this invariably means the rule as to the payment of minimum wages in Australia is a “comply or else” strategy.
The Australian government administration is currently the country’s biggest employer of labour, followed by the health sector with non-governmental organizations and professional services coming third and fourth respectively.
Minimum wage: $13.67 per hour
Luxembourg is an European country with a very wealthy population. The country is one of the world’s richest nations by per capita income. Like Australia, Luxembourg has an efficient labour law framework. In addition, the country has a mandatory work time limit of 40 hours per week and no more than 8 hours a day.
Luxembourg has become a financial epicentre for most of Europe, with almost half of the country’s labour force coming from other parts of Europe to the country for work.
The government is the highest employer of labour in Luxembourg employing over 10% of the country’s entire labour force, and the services sector follows as the second highest employer of labour. The provision of a suitable atmosphere for labour makes Luxembourg an attractive destination for work.
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3. New Zealand
Minimum wage: $13.18 per hour
New Zealand is an Island nation situated off the coast of Australia, the nation has a strong economic and financial base with a strong concentration on finance, health care, manufacturing and construction.
New Zealand is one of the world’s most stable countries in terms of its overall GDP. The country brags a strong position with a high minimum wage per hour. New Zealand has some of the best labour laws and is argued to be a destination for numerous immigrant workers.
Minimum wage: $11.88 per hour
Monaco is yet another small European nation of the Mediterranean sea. The European Union member country is a playing park for Europe’s richest. Monaco has a significantly favourable labour sector attracting citizens from all over Europe to the Island nation in search of work.
The labour laws in Monaco protect workers’ rights to dismissal, payment of the minimum wage and benefits. The law ascertains that employees need not execute employment agreements but can also make collective agreements with their employers or be bound by an already existing collective agreement.
Minimum wage: $11.54 per hour
Ireland takes the 5th position as the best-paying country in the world. The country is yet another European powerhouse with a strong services and manufacturing sector. Labour in Ireland is guided by various legislation, notable of them is the Employment Equality Act which seeks to discourage discrimination in whatever form at the workplace in Ireland.
Ireland offers employment in a variety of sectors, locals can gain employment in tourism, finance, agriculture and others.
Minimum wage: $11.46 per hour
France is another European nation and has the world’s 6th highest minimum wage. Services claim a lion’s share in the french economy with over 70% of the french labour force being employed in the services sector. Industry, tourism and agriculture follow respectively.
France, just like other countries on the list, possesses strong labour laws that provide basics to employee protection and foster labour rights. Nonetheless, the country’s minimum wage has been argued to be small compared to the standard of living in France, especially in cities like Paris. With rent going twice the actual cost of the same apartment in other big cities of the world. This drawback has attracted the French labour force to other European countries for work.
7. United Kingdom
Minimum wage: $11.37 per hour
The United Kingdom (UK) is the 7th highest-paying country in the world with a minimum wage as high as $11 per hour. The UK is arguably Europe’s powerhouse for finance, banking and trade-related activities. The British capital, London, is the largest and busiest city in Europe; it also serves as a world financial centre. The UK hosts the London Stock Exchange, Europe’s biggest exchange market and also has a strong labour force.
Nonetheless, just like France, the British economy is highly exorbitant, with workers having to work extra hours to meet up with the standard of living. This has raised calls for increased minimum wages and numerous strikes in the UK.
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Minimum wage: $11.21 per hour
The Netherlands is a rich country with a strong service-based economy. Agriculture and mining also contribute significantly to the nation’s employment sector. Employees in the Netherlands have significant protections which cover both citizens and immigrant workers.
Minimum wage: $11.06 per capita
Belgium offers a work life that affords its labour force the most flexible style possible. The country has a relaxed working structure where workers work for 40 hours a week and nothing more.
The country also has strong protection for its labour force in the areas of suitable work environments, non-discrimination policies, sick leaves and other rights.
Minimum wage: $10.68 per hour
Europe’s largest economy is the 10th highest paying nation for employees. Germany just like Belgium brags of a relaxed work and social life balance for its nation’s employees, offering workers the opportunity to work and play at the same time.
Countries try to offer the best work environments to attract various immigrants from across the world. Europe takes the largest share of countries with the highest minimum wages on the planet, having eight out of the ten listed nations.
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Frequently Asked Questions (FAQs)
The US has a minimum wage of $7.25 per hour and is the world’s 17th highest.
Immigrant workers in Australia possess similar working rights as citizens. Nonetheless, to work in Australia persons not citizens of Canada, the UK, New Zealand or any other British territory would require permits.
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