Wednesday, March 6, 2013

$15.96/hr Minimum Wage

I too am curious how there is not more unemployment in Australia if they have a minimum wage of $15.96.  The fact there is already an underground economy forming to pay people less suggests to me there is enough government intervention or hanky panky going on that there is more to this than meets the eye.  About the only explanation I can come up with as to why Australia's unemployment rate is so low is that it is not that big of a country (population wise) and the commodities boom they are having it keeping the market rate above the minimum wage.

But I am speculating.

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