does not have a $20/hr. minimum wage (source: http://www.wageindicator.org/main/salary/minimum-wage/australia). What Australia does have is a 16.87AUD/hour minimum which translates (at the current exchange rate) into 14.84USD/hour (AUD and USD are acronyms respectively for “Australian Dollar” and “US Dollar”). Furthermore, there are all sorts of caveats that apply; for example, there’s a schedule of minimum wages (expressed as a percentage of the 16.87AUD/hour baseline) based upon the age of the worker:
<16 years: 36.8%
AUD6.21
USD5.46
16 years: 47.3%
AUD7.98
USD7.02
17 years: 57.8%
AUD9.75
USD8.58
18 years: 68.3%
AUD11.52
USD10.13
19 years: 82.5%
AUD13.92
USD12.24
20 years: 97.7%
AUD16.48
USD14.49
For more on the economics of the minimum wage, I recommend reading the attached article by David Neumark; Dr. Neumark is an economics professor and director of the Center for Economics and Public Policy at the University of California, Irvine.
Who Really Gets the Minimum Wage, by David Neumark.pdf]]>
In today’s daily USPS junk mail delivery, I was deluged (as is everyone these days) by a pile of political flyers. One of the flyers in particular caught my eye – it was entitled “Common Sense MMXIV” (why the Roman numerals? But I digress).
One of the supposed “common sense” proposals listed on this flyer was to “…. enact, as Australia has, a $20/hr. minimum wage”. Since I was not aware that Australia had a $20/hr. minimum wage, I googled this topic and found that in fact Australia does not have a $20/hr. minimum wage (source: http://www.wageindicator.org/main/salary/minimum-wage/australia). What Australia does have is a 16.87AUD/hour minimum which translates (at the current exchange rate) into 14.84USD/hour (AUD and USD are acronyms respectively for “Australian Dollar” and “US Dollar”). Furthermore, there are all sorts of caveats that apply; for example, there’s a schedule of minimum wages (expressed as a percentage of the 16.87AUD/hour baseline) based upon the age of the worker:
<16 years: 36.8%
AUD6.21
USD5.46
16 years: 47.3%
AUD7.98
USD7.02
17 years: 57.8%
AUD9.75
USD8.58
18 years: 68.3%
AUD11.52
USD10.13
19 years: 82.5%
AUD13.92
USD12.24
20 years: 97.7%
AUD16.48
USD14.49
For more on the economics of the minimum wage, I recommend reading the attached article by David Neumark; Dr. Neumark is an economics professor and director of the Center for Economics and Public Policy at the University of California, Irvine.