Posted on 05/18/2014 5:16:57 AM PDT by wetphoenix
Switzerland's citizens voted Sunday on whether to create the world's highest minimum wage of 22 Swiss francs ($24.70) an hour.
If passed, the Swiss would more than double the existing highest minimum wages in force elsewhere in Europe. Results are expected later Sunday.
Trade unions sponsored the wage proposal as way of fighting poverty in a country that, by some measures, features some of the world's highest prices. But opinion polls indicated that most voters side with government and business leaders, who have argued it would cost jobs and erode economic competitiveness.
Switzerland currently has no minimum wage, but the median hourly wage is about 33 francs ($37) an hour.
The Organization for Economic Cooperation and Development lists the highest current minimum wage as Luxembourg' at $10.66 an hour, followed by France at $10.60, Australia at $10.21, Belgium at $9.97, and the Netherlands at $9.48. The U.S. minimum wage of $7.25 came tenth on the list. The OECD adjusted figures for spending power.
Voters also faced three other citizen-inspired referendums Sunday. If passed, these would provide the Swiss Air Force with 22 of Saab's new Gripen fighter jets; impose a lifetime ban on convicted pedophiles working with children; and amend the constitution to support more family doctors in rural areas.
Referendums are a regular feature of democracy in Switzerland, which features a weak central government and strong state governments.
(Excerpt) Read more at nbcnews.com ...
other than Banking what do the Swiss do?
Rejected
http://www.bbc.com/news/business-27459178
“Swiss voters have rejected a proposal to introduce what would be the highest minimum wage in the world in a referendum, first projections indicate....”
“other than Banking what do the Swiss do?”
______________________________________________
Watch time go by.
Shoot holes in cheese.
my very distant relatives make watches.
one distant cousin makes ruby watch bearing jewels
The farm from which my great great great grandfather was chased in 1854 is also a vineyard and produces grapes for white wine
Marxism seems to be advancing everywhere these days - even hard-headed Switzerland.
Strange - the Swiss are notably level-headed; this doesn’t seem to fit with their national character.
other than Banking what do the Swiss do?
Chocolate
Watches
Pens (e.g., Mont Blanc)
Highest Minimum Wage = Greece
Farming, cheese, chocolate, fourmatic versions of Benz etc.
Correct. They make watches. And chocolate and cheese. I think the most important point is that the Swiss have no minimum wage and are probably the most prosperous country in Europe.
I forgot one other thing.....
There is a Swiss company that bought the Tennessee technology for machines that grade cotton. They still have a facility in Tennessee and others in Switzerland. They are the standard for cotton grading technology.
Then there is Nestle....... global groceries
Hot chocolate mixes and candy will skyrocket....
Tourism. This should fix that.
Count other people’s money...oh wait that’s in banking. A lot of companies are headquartered there. Other people are in the hospitality industry, since it is a nice country to visit.
These government set minimum wages ignore productivity. To pay someone $24 an hour their labor must generate more than $24 of revenue per hour worked. For jobs as in the fast food industry this is not possible without drastically increasing the price of those burgers and reducing the number of workers. It might well be cheaper to automate production rather than pay a non or semi skilled worker $24 per hour.
They control/own 19 Pharma Companies.
http://en.wikipedia.org/wiki/Category:Pharmaceutical_companies_of_Switzerland
You hit the nail on the head...
Hourly minimum wage usually is close to the cost of a normal McDonald’s meal....say $7.25 minimum wage is cost of one meal...so increase minimum wage to $15.00 per hour and you get one of two things.
1. one meal costs close to $15.00
2. Employees lose their jobs to robots who work for less.
The latter will eliminate jobs for teens, who are in HS.
Seems counterproductive to me for the employee to fight for $15.00 an hour at fast food restaurants, when they can get a Pell Grant from the government, and train for a job that pays $15.00 an hour, such as a CNA...which takes about two months training including internship depending on state law. Sure they have to change patients diapers, but if they have babies they will have to change theirs too...good experience. Other options are bar tenders, hair stylists, barbers, auto mechanics etc, although some classes may take longer. Stick with that minimum wage job and work nights.
I worked my way through college....any work is worthwhile.
WE have the whining generation instead of the working one. And there are plenty of jobs out there, the teens in my family have had no problem finding work in this economy, although it takes looking and filling out applications.
The older one has a full time job with benefits now, after two years of community college and minimum wages at a grocery store...so getting off their keister is the first step to finding a job that pays well.
Higher paying job equals more payroll taxes to the government, thereby meaning more youth, who can get small grants to train for higher paying jobs...it’s a hand up for the poor, and promotes capitalism... not a hand out or an entitlement like food stamps. People choose work or choose an alternative. Smart does not always mean productive.
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