One way in which governments interfere in the labour market it to set a minimum wage. This involves passing legislation (such as an Act), which means no employment is allowed to pay their workers an hourly rate below the limit set.
|
Reasons for minimum wage legislation:
|
Trade unions:
Organizations that exist to protect the interest of workers. The main aims of trade unions are:
|
Minimum wage: a minimum amount per hour which most workers are entitled to be paid.