Countries without Minimum Wage Law

April 14, 2007 at 2:24 am (Economic, World)

1. Austria: none by law; instead, nationwide collective bargaining agreements set minimum wages by job classification for each industry; the accepted unofficial annual minimum wage is €12,000 to €14,000.
2. Brunei
3. Denmark
4. Finland: not in law; however, the law requires all employers, including nonunionized ones, to meet the minimum wages agreed to in collective bargaining agreements in each sector of the workforce; almost all workers are covered under such arrangements
5. Germany: none by law (but in discussion); collective bargaining agreements set minimum wages by job classification for each industry and region; however, these agreements apply only to employers who are full members of an employers’ association (the vast majority of German employers are members)
6. Hong Kong: applies only to foreign labor.
7. Iceland: none; minimum wages are negotiated in various collectively bargained agreements and applied automatically to all employees in those occupations, regardless of union membership; while the agreements can be either industry- or sector-wide, and in some cases firm-specific, the minimum wage levels are occupation-specific.
8. Italy: none by law; instead set by a collective bargaining agreements on a sector-by-sector basis; when an employer and a union fail to reach an agreement, courts may determine fair wages on the basis of practice in comparable activities, although this rarely occurs in practice.
9. Norway
10. Singapore
11. Sweden: none by law; set by collective bargaining contracts every year.

Source: List of Minimum Wage by Countries, Wikipedia