Why doesn’t Sweden have a minimum wage?

Australian firms put more money into capital investment than New Zealand businesses did which made their industrial workers more productive . This resulted in higher wages for not just those workers but workers across all industries in Australia, he said.

Countries With The Highest Minimum Hourly Wages In The World, 2019: RankCountryMinimum hourly wages (USD)1Australia14.142Luxembourg13.143New Zealand11.284France11.24Countries With The Highest Minimum Hourly Wages In The World, 2019 ceoworld.biz › 2019/01/03 › countries-with-the-highest-minimum-hourly-…

Cuba is the country with the world’s lowest minimum wage . On a monthly basis, an employee in Cuba receives the minimum wage of 225 Cuban pesos –equivalent to $9. To supplement this meagre monthly wage, each Cuban employee is supplied with food on a free-of-charge basis.

Sweden. Sweden is often touted as the poster-child for abolishing the minimum wage. However, the Nordic nation using a Nordic model is certainly no free-market free-for-all. Instead, minimum wages are set by sector or industry through collective bargaining .

1. Australia . The minimum wage for one hour of work for most employees in Australia is 20.33 AUD, which equals about 14.54 USD to 14.60 USD. ​​ Thus, Australia has the highest minimum wage in the world.