GITNUX MARKETDATA REPORT 2024

Must-Know Minimum Wage Statistics [Recent Analysis]

In this post, we explore a range of statistics related to minimum wage across different countries, shedding light on the state of poverty, wage distribution, and economic policies worldwide. From the number of individuals living below the poverty line in the United States to the varying minimum wage rates in different regions, these statistics offer valuable insights into the complexities of the global workforce and the impact of minimum wage policies.

Statistic 1

"In 2021, 37.93 million people in the United States lived below the poverty line, an increase of 0.4 million from the previous year."

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Statistic 2

"Whites make up the majority of the low-wage labor market, with 832 out of every 1,000 people working at the minimum wage."

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Statistic 3

"Three out of five minimum wage holders choose to work in the food service industry, while the transportation industry is a distant second choice."

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Statistic 4

"The Czech Republic has the lowest poverty rate among OECD countries, while Costa Rica has the highest."

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Statistic 5

"In 2021, 37.93 million people in the United States lived below the poverty line, an increase of 0.4 million from the previous year."

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Statistic 6

"The federal minimum wage in the United States is currently $7.25 per hour."

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Statistic 7

"29 states plus Washington D.C. have minimum wages above the federal rate."

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Statistic 8

"The highest state minimum wage in the U.S. is Washington D.C. at $15.20 per hour."

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Statistic 9

"1.6 million U.S. workers earned the federal minimum wage in 2020."

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Statistic 10

"73.5 million U.S. workers are paid hourly rates, representing 55.5% of all wage and salary workers."

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Statistic 11

"In European Union countries, the average minimum wage in 2021 is €948 per month."

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Statistic 12

"Australia has the highest minimum wage in the world at AUD $20.33 per hour (USD $14.56)."

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Statistic 13

"Over 2 million workers in the United Kingdom receive the National Living Wage (£8.91 per hour as of 2021)."

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Statistic 14

"The average minimum wage in Latin America is 388 U.S. dollars per month in 2021."

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Statistic 15

"The highest minimum wage among African countries is in Angola at $136 per month."

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Statistic 16

"In 2019, approximately 82,000 workers earned the minimum wage in Canada."

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Statistic 17

"In India, the minimum wage varies by state, profession, and skill level, with rates ranging from INR 176 – 437 per day."

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Statistic 18

"Minimum wage in China varies by province and ranges from ¥16 to ¥25 per hour in 2021 (approximately $2.48 to $3.87 per hour)."

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Statistic 19

"From 1994 to 2021, the United States’ federal minimum wage increased 81.5%, from $4.00 to $7.25."

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Statistic 20

"Research shows that minimum wage increases may cause price increases in industries with a higher concentration of low-wage workers."

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The statistics presented shed light on the current state of minimum wage and poverty levels across various countries. In the United States, a significant number of individuals continue to live below the poverty line despite having a federal minimum wage of $7.25 per hour. It is evident that the issue of low wages disproportionately affects certain demographics and sectors, such as white individuals and workers in the food service industry. Contrasting with this, countries like Australia and the Czech Republic have implemented higher minimum wage rates and lower poverty rates. However, research suggests that minimum wage increases may lead to price hikes in industries with a high concentration of low-wage workers. This highlights the complex interplay between minimum wage policies, poverty levels, and economic dynamics on a global scale.

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