European country data on the minimum wage

At The Money Illusion blog:

“Regarding the minimum wage, here is some data for Western Europe:

“There are nine countries with a minimum wage (Belgium, Netherlands, Britain, Ireland, France, Spain, Portugal, Greece, Luxembourg). europaTheir unemployment rates range from 5.9% in Luxembourg to 27.6% in Greece. The median country is France with 11.1% unemployment.

“There are nine countries with no minimum wage (Iceland, Norway, Sweden, Finland, Denmark, Austria, Germany, Italy, Switzerland). Five of the nine have a lower unemployment rate than Luxembourg, the best of the other group. The median country is Iceland, with a 5.5% unemployment rate. The biggest country in Europe is Germany. No minimum wage and 5.2% unemployment.”

Update: Here’s a link to a map with each European country’s current minimum wage rate indicated.

(Thanks to John Kannarr for the link.)

Related:
My video-lecture on the moral, economic, and political arguments for and against minimum wage laws.

2 thoughts on “European country data on the minimum wage

  • November 19, 2013 at 12:32 pm
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    Wow! Do you suppose this free-market stuff actually works?

  • January 3, 2014 at 1:13 pm
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    There should be no such thing as a minimum wage.
    The minimum wage destroys the free economy.

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