Countries without Minimum Wage Law
April 14, 2007 at 2:24 am (Economic, World)
- 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.
- 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
- 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)
- Hong Kong: applies only to foreign labor.
- 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.
- 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.
- Sweden: none by law; set by collective bargaining contracts every year.
Source: List of Minimum Wage by Countries, Wikipedia