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What Is Minimum Wage?

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What Is Minimum Wage?
As indicated in the literature, minimum wage is considered one of the levers to address the challenges of income inequality. It is not as easily implemented as it seems (ILO, 2003). The different labour market perspectives and various power institutions at play within the labour market are factors that contribute to the wages levels set, processes within which wages are set and viewpoints of socio-economic situation (Kanbur et al., 2015).
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