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Swiss reject world’s largest minimum wage

Posted by wlpo on May 18, 2014

      More than three quarters of Swiss voters have rejected a plan setting  the world’s highest minimum wage. Under the proposal, Swiss workers would have been paid a minimum of $24.70 an hour.
 
     Trade unions had proposed it as a way of fighting poverty in a country that, by some measures, features the world’s highest prices and most expensive cities. But voters were concerned about upsetting the country’s strong economy, and about driving costs even higher.
 
     Switzerland’s economy minister said, “A fixed salary has never been a good way to fight the problem.”
 
     Switzerland currently has no minimum wage. But the median hourly wage is about $37.

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