Free US Law DictionaryBETA A minimum wage is the lowest hourly,
daily or monthly wage that employers may legally pay to
employees or workers. First enacted in Australia and New Zealand
in the late nineteenth century, minimum wage laws are now
enforced in more than 90% of all countries. Many supporters of
the minimum wage assert that it is a matter of ethics and social
justice that helps reduce exploitation and ensures workers can
afford what are considered to be basic necessities. Others,
however, claim it hurts businesses by reducing profit margins,
and also increases unemployment.