A wage slave is someone who relies solely on their job for basic needs and lacks other financial assets. They may feel trapped in their job and have no other income sources or insurance benefits. Variations of the term include cubicle and factory slaves. A wage slave is a slang term describing someone who is […]
Minimum wage laws impact industries with large numbers of minimum wage jobs, such as food service, retail, and caregiving. These jobs often lead to a lower standard of living for employees, and the specific cut-off point for minimum wage varies by region. Other minimum wage jobs include cleaning, cashiering, and physical labor. The rate of […]
Prevailing wage is the hourly wage, benefits, and overtime paid to workers in a particular region. It includes health care, retirement account payments, and paid vacations. Employers may be required to file a prevailing wage determination application, and falsifying information can lead to legal consequences. A prevailing wage is a wage that reflects the hourly […]
Minimum wage laws are adjusted in response to economic indicators such as inflation and poverty rates. Advocates for and against minimum wage laws debate the impact on small businesses and workers’ rights. National and local factors influence changes in minimum wage laws. The state of a country’s economy and the general political climate tend to […]
The minimum wage is a topic of debate among economists and politicians, with arguments for and against including concerns about outsourcing, workers’ ability to earn a living, market prices, supply and demand, and labor abuses. Supporters argue for a living wage, while opponents point to potential downsides such as outsourcing and higher production costs. The […]
The term “wage slavery” was first used in 1836 by female textile workers in Lowell, Massachusetts. It refers to the condition of most people who earn money for work, and some argue that it only exists when people work in jobs just above subsistence level and have to endure terrible working conditions. Marxian communism aimed […]
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