2015 has seen a big shift around the world for minimum wage figures.
In Germany they introduced a minimum wage for the first time on the 1st January 2015. This has seen a lot of workers have their wages increased to meet this new minimum, but the knock-on effect is that many business owners have had to increase their prices to match the wage increase.
The UK has had a minimum wage in place for a long time, but that hasn’t meant that all businesses have abided by this. So to combat this, the UK government has taken to naming and shaming those companies that are paying below the minimum wage. To date, 48 companies have so far been outed for short-changing their staff.
In the United States, President Barack Obama called on Congress to raise the federal minimum wage to $10.10 (up from $7.25 where it has been since 2009). The issue dragged on, but a number of States decided to act intuitively and initiate the wage increase, much to the delight or workers within these States.
The United States government is looking to reduce the amount it currently pays out to working families that require financial assistance. It currently pays out USD $152.8 billion annually in support for these families, so the wage increase will provide them with the means to be able to cut this figure down.