Switzerland pushes for minimum wage of $25 per hour
The Swiss will vote in a national referendum on May 18 on whether to create a minimum wage of 22 francs ($25) per hour, or 4,000 francs a month. While about 90 per cent of workers in Switzerland already earn more than that, employers say setting Switzerland's first national wage floor would push up salaries throughout the economy. When adjusted for currency and purchasing power, it would be the highest minimum in the world. The chief backers of the proposal are Switzerland's biggest trade unions, which argue that pay levels need to reflect the country's prices — among world's highest.
Read the Economic Times news report here.