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Even keeping wages level with inflation could cost an additional $500 million.
As wages level off, medals and awards that raise status without costing hard currency might substitute as compensation, as practiced in the Soviet period, beginning principally in the 1930s, when such status symbols, rather than salaries, measured accomplishment.
Based on this information -- unemployment, average wages, level of household debt -- we could initiate practical, pragmatic, steps toward helping people live better lives, right now, not four years from now.
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"We already have an expert independent Low Pay Commission, which should have responsibility for setting statutory wages levels".
In other words, a very modest increase of one minimal wage level in income increased the chances of suicide in a high-risk cluster by 5.6%, and an increase of five minimal wages levels increased the chances by 31%.
In those cases, working for more than 45 minutes risked breaching the current living wage level.
Both are at the same wage level as they were in 1998.
The Low Pay Commission is set up to recommend wage level.
Why is the general wage level of a country not lower or higher than it is?
"If Foxconn announces another round of pay raises, we'll reconsider our wage level, too".
However, there will be no separate higher minimum wage level for London despite increased living costs.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com