MINIMUM WAGE IN EUROPE: A COMPARATIVE STUDY OF REGULATORY SYSTEMS

Abstract

The concept of a minimum wage is a kind of standard to ensure that workers receive
fair compensation for their work, thus preventing unjustified low wages. It is a standard set by
countries to protect workers from exploitation and to guarantee a basic standard of living.
Not all countries have established a national minimum wage, some have accepted and
applied alternative mechanisms for the protection of workers. But this inequality not only
reflects the economic diversity between European countries, but also highlights different
approaches to social protection and labor policies.This paper defines the minimum wage, analyzes the types of minimum wage
regulations in European countries and what is the degree of variation between these
regulations, as well as the specific ways in which they are enacted.