Surprising Minimum Wage Facts

Did you know that 29 countries around the world don't have a minimum wage? Well now you do. Oh, and uh...watch this video for other facts.

Here's an annotated script with footnotes

Sources/further reading:

#minimumwages #minimumwagedebate #economics

Join this channel to get access to perks:

For business inquiries or to send snail mail to Mr. Beat:

How to support and donate to my channel:

Subscribe to @iammrbeat & hit the notification bell 🔔

Join for great perks on Patreon

Donate to Mr. Beat on Paypal

Buy Mr. Beat a coffee

Subscribe to my second channel: The Beat Goes On

Patreon for The Beat Goes On

Connect with me:

@beatmastermatt on Twitter

Merch:

Affiliate Links:

Useful Charts

Australia currently has the highest minimum wage in the world.

A minimum wage is the lowest pay employers can legally pay their employees. But while many people around the world take a minimum wage for granted, minimum wage laws have only been around since the 1890s. And approximately 29 countries around the world do not have a minimum wage. Other countries only have a minimum wage for certain TYPES of jobs. Sometimes the minimum wage is per month, not per hour.

Even WITHIN countries there’s lots of different minimum wages. The United States has more than 100 different wages across the country, mostly due to cost of living differences. India has around 2,000 minimum wage rates for different types of industries and skill levels.

So do minimum wage laws actually reduce poverty? Well, we don’t know. That’s a debate that’s been raging since the 1890s. After all, there’s a pretty high standard of living in Norway, Sweden, Denmark, and the United Arab Emirates, which are all countries without a minimum wage.