[Switzerland] World record £19 an hour minimum wage to be introduced

[Switzerland] World record £19 an hour minimum wage to be introduced
13 Oct 2020

Geneva is set to introduce the world's highest minimum hourly wage; a rate of 23 Swiss francs ($25, £19.38) per hour. Following the rise, the Swiss city’s hourly minimum wage will reportedly be more than twice the rate of neighbouring France, with a 41-hour working week guaranteeing a minimum monthly salary of 4,086 ($4,100, £3,457) Swiss francs.

Votes in favour of the measure were said to be a surprise. Residents in the canton - an administrative region including the city of Geneva - voted for the wage increase in the wake of growing COVID-19-linked poverty. Geneva’s economy is heavily dependent on business visitors and tourists. It has been significantly impacted by the COVID-19 crisis and lockdown measures. Concerns have been expressed as the queues of people outside food banks grow. Yahoo! Finance reports on the record breaking increase and reactions to the news.

Geneva is set to introduce the world's highest minimum hourly wage; a rate of 23 Swiss francs ($25, £19.38) per hour. Following the rise, the Swiss city’s hourly minimum wage will reportedly be more than twice the rate of neighbouring France, with a 41-hour working week guaranteeing a minimum monthly salary of 4,086 ($4,100, £3,457) Swiss francs.

Votes in favour of the measure were said to be a surprise. Residents in the canton - an administrative region including the city of Geneva - voted for the wage increase in the wake of growing COVID-19-linked poverty. Geneva’s economy is heavily dependent on business visitors and tourists. It has been significantly impacted by the COVID-19 crisis and lockdown measures. Concerns have been expressed as the queues of people outside food banks grow. Yahoo! Finance reports on the record breaking increase and reactions to the news.

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