Minimum Wage

Minimum Wage is fixed by legal authority or by contract as the least that may be paid either to employed persons generally or to a particular category of employed persons.  It is a legally mandated price floor on hourly wages, below which non-exempt workers may not be offered or accept a job. Minimum wage laws are in effect in many jurisdictions, differences of opinion exist about the benefits and drawbacks of a minimum wage. It is an amount of money that is the least amount of money per hour that workers must be paid according to the law.