Australias unemployment rate is 4.2% and the minimum wage is equal to $ 11.00 us dollars an hour .?

So why is it some countries can have a minimum wage that means something and America can not .

Australias unemployment rate is 4.2% and the minimum wage is equal to $ 11.00 us dollars an hour .?credit rating

Actually the low unemployment means that the minimum wage DOESN%26#039;T %26quot;mean something%26quot; economically.

Minimum wage is a price floor. It means employers cannot pay below a certain wage. That doesn%26#039;t mean that if you%26#039;re making $5.50/hour and the government makes the minimum wage $11/hour your wage will be doubled, for the same reason that if there were a government-set minimum price one person could pay for a meal and it were set at $40, few people would ever eat at McDonald%26#039;s.

France and Germany also have much higher minimum wage laws, and if you include mandatory benefits the minimum compensation is strikingly higher than in the US - - and there is typically 2 to 2.5 times our rate of unemployment.

In Australia as in the US the minimum wage has exceptions for certain trades, including agricultural workers. The growth in the Australian economy and in Australian employment in the last few years has been in agriculture and mining, primarily for export to Asia. Many agricultural workers don%26#039;t GET the minimum, and the profit made by the mines as a result of the rising prices for the metals being mined puts a huge premium on producing as much as possible - thus the real wages have climbed above that $11 minimum - - the minimum could be $5/hour, miners would still be paid what they are paid today.

Minimum wage doesn%26#039;t determine what your wage is. The market determines your wage. Minimum wage simply determines whether, given your wage, you have a job at all.

Australias unemployment rate is 4.2% and the minimum wage is equal to $ 11.00 us dollars an hour .?

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because Australia does not run solely on big business and the bottom dollar. everything America does is for money. companies dont want to pay their workers more money because that would mean less profit for them. america loves to separate the rich from the poor, do they dont to raise minimum wage to put the poor closer to the average american. and its not just australia either. every developed country makes more than america, including canada, france, and britain. its a shame. the most powerful nation in the world cant pay their citizens enough for a decent living.