Skip to comments.Switzerland Rejects World's Highest Minimum Wage
Posted on 05/18/2014 4:46:44 PM PDT by nickcarraway
It would have been the highest minimum wage in the world, but Swiss voters have rejected a proposal to pay workers the equivalent of $25 an hour.
Early polling results showed about 77 percent of Swiss voters rejected the wage hike.
Switzerland currently has no minimum wage, and this measure would have affected about 10 percent of the population. (Via Euronews)
When adjusted for spending power, the Swiss minimum wage proposal would have amounted to about $14 an hour that's more than the minimum hourly wages in other Western nations with high pay floors according to data from the Organization for Economic Cooperation and Development.
Supporters mostly trade unions argued raising the minimum wage was necessary considering Switzerlands famously high cost of living in cities like Geneva and Zurich. (Via YouTube / luczw's channel)
But politicians and business leaders fought the proposal. They pointed to Switzerlands low unemployment of 3.2 percent and expressed concern that raising the minimum wage could cost jobs. (Via BBC)
Switzerland's vote comes as several European governments make a similar move to raise the minimum wage.
Next month Germanys parliament is set to vote on a proposal to establish the countrys first federal minimum wage. (Via The Local)
In France, President Francois Hollande has raised the minimum wage twice since coming into office. (ViaFrance 24)
This was the third time Swiss voters have headed to the polls in the past year two years to vote on issues involving pay. Last year Switzerland voted to limit salaries for executives to 12 times that of a company's lowest salary.
I guess a “little bit” of a bad thing that sounds good is better than “a whole lot” of a bad thing that sounds good.
Wouldn't it affect a whole lot more people than the 10% who would supposedly benefit?
Wish more dumb ideas were put to the vote here
Wow, they wanted $25 an hour.
If you earn $25 an hour at a full-time job, 40 hours a week, you would be earning about $50,000 a year. Can you imagine a minimum wage of $50,000 a year?
Can you imagine paying that much to unskilled or low skilled workers such as the fast food hired help who are agitating recently?
“Supporters mostly trade unions argued raising the minimum wage was necessary considering Switzerlands famously high cost of living in cities like Geneva and Zurich. (Via YouTube / luczw’s channel) “
Why don’t these people ever advocate policies that would lower the cost of living instead?
1. Relaxing building restrictions and zoning laws to to lower the cost of housing
2. Reducing taxes on businesses that would lower consumer cost
Just a thought
Tough to say. The average hourly wage there is something like $33 an hour.
Republicans should hit every Democrat minimum wage hike bill with an amendment to increase it to $50/hr, and then vote “yes” for it if it makes it to the floor.
Derail the train now, while people still know how we got here.
Always thought the Swiss were the only sane people in Europe.
Good for Switzerland. Send some of their economists over here.