Minimum In Wage

Abstract

More than 90 percent of all countries have some kind of minimum wage. The objectives of the minimum wage were to increase income, reduce poverty, increase employment, increase standard of living, and reduce inequality. An analysis of the impact of minimum wage concerns with the number of variables such as employment, income, market structure, elasticity of demand for labour, elasticity of supply of labour, gross domestic product,etc. The findings of these researches show the positive and negative impact of the minimum wage.