Re:Before buying a NYT subscription, here's what it'll take ...
by 542354234235 on Thursday February 18, 2021 @10:46AM
(#26181171)
> would be the highest minimum wage in the world right now.
Australia's minimum wage for people over 21 is over $15 USD for full time work, and over $19 USD for part time (you receive a 25% casual loading rate increase for part time work). [1] That comes out to about 70% of their GDP per capita (working 38 hours per week, 50 weeks a year). The US going to $15 an hour would only be 43% of GDP per capita. If the US paid its minimum wage workers according to our actual economic output per person, our minimum wage would be $24 an hour, to match Australia. I wouldn’t really call $15 an hour radical.
Australia's minimum wage for people over 21 is over $15 USD for full time work, and over $19 USD for part time (you receive a 25% casual loading rate increase for part time work). [1] That comes out to about 70% of their GDP per capita (working 38 hours per week, 50 weeks a year). The US going to $15 an hour would only be 43% of GDP per capita. If the US paid its minimum wage workers according to our actual economic output per person, our minimum wage would be $24 an hour, to match Australia. I wouldn’t really call $15 an hour radical.
[1] https://blog.aigroup.com.au/australia-had-the-highest-minimu...