why are european wages so low?
242049
For well-paying jobs, they pay less in Europe because large European companies are generally less productive than their US counterparts. Businesses in the US are highly consolidated, which grants them the economy of scale which European companies can only dream off, and also in many cases, somewhat monopolistic power.
330176
['Denmark. Denmark balances salary against cost of living well, and average daily work hours (6.6 per day) way outnumber leisure hours (8.8 per day).', "Sweden. We've been envious of the Swedes for a while now, and their work lives are one of the main reasons. ... ", 'Netherlands. ... ', 'Finland. ... ', 'France. ... ', 'Spain. ... ', 'Luxembourg. ... ', 'Germany. ... ']
380374
Any Econ 101 student can tell you the answer: The higher wage reduces the quantity of labor demanded, and hence leads to unemployment. This is one reason why 72 percent of US-based economists oppose a federal minimum wage of $15.00 per hour.
1292093
Take in to account the currency exchange rate but you'll get it cheaper in Europe than Dubai. UK prices are definitely lower. On today's rate of Sterling it's definitely cheaper to buy in The UK.
1440776
France. France's unemployment benefits are among the most generous in Europe, payable even for net salaries of €6,959 (£5,021) per month.
1236222
The employees of the OECD, CoE and NATO do not pay income tax, which results in their net wages being comparable to those of the EC and higher than those of the three countries.
1073807
Wages are low because there are many job seekers and few job creators. It is a matter of supply and demand. ... This allows Filipino businesses to keep wages low since there is no competitive pressure from foreign majority owned businesses for the job seekers.
760437
Firstly, a minimum wage may not cause any unemployment. Labour markets are not perfectly competitive but have a degree of monopsony power. Demand for labour may be wage inelastic. Firms just pay higher wages and there is little fall in demand.
39279
The average salary of 410,000 ISK per month (approximately 3300 USD) puts Iceland's figures among the highest salaries in Europe. Even if the cost of living in the country is high, the purchase power still makes of Iceland an attractive place to be an employee.
969761
['3.1 Poor quality of human resource. ... ', '3.2 Inadequate pressure from various societies. ... ', '3.3 Poor legislation. ... ', '3.4 Lack of direct incentives. ... ', '3.5 Financial constraints. ... ', '3.6 Technical barriers. ... ', '3.7 Lack of management commitment. ... ', '3.8 Lack of employee commitment.']
983876
The main reason for setting a lower wage floor for younger workers is to protect employment. The LPC's remit for young workers is to push pay as high as possible without harming their employment prospects. Evidence shows that younger workers are at higher risk of being priced out of jobs than older workers.
470611
The potential downside is that a higher minimum wage may discourage firms from employing the low-wage, low-skill workers that minimum wages are intended to help. ... Research findings are not unanimous, but especially for the US, evidence suggests that minimum wages reduce the jobs available to low-skill workers.
1174514
The standard rate is 20% and so 20% of your wages is taken if you're earning less than €33,800 a year (€32,800 up to 2014). Basically, if you're paid monthly and make less than €2,816 gross a month or are paid weekly and make less than €650 gross a week, 20% of your income is taken in tax.
1343567
Switzerland is has the perfect combination of earnings and disposable income, making them the most comfortable country in Europe and ranking highly on a global scale. Glassdoor says, 'In Switzerland, the average city-based worker can afford to buy around twice as much as his or her equivalent in New York City.
150681
['United States. Pay: $850 a month. Hours: 45 hours per week. ... ', 'Denmark. Pay: $650 a month. Hours: 18-30 hours per week. ... ', 'Sweden. Pay: $450 a month. Hours: 25 hours per week. ... ', 'South Africa. Pay: $375-$525 a month. Hours: 40 hours per week. ... ', 'China. Pay: $100-$300 a month.']
433170
While workers in Switzerland, Denmark and Germany enjoy the highest overall living standards in Europe, Estonia, Greece and Portugal—despite the affordable cost of living—rank among the least advantageous countries for workers.
430290
Arguments against Minimum Wage Laws Excludes low cost competitors from labor markets, hampers firms in reducing wage costs during trade downturns (etc.), generates various industrial-economic inefficiencies as well as unemployment, poverty, and price rises. Hurts small business more than large business.