Swiss To Vote On $25.26 Minimum Wage
While Switzerland’s booming economy has made the country synonymous with a superlative standard of living, the government estimates that approximately one worker in 10 struggles to pay rent, despite working full time.
Just as the issue has been fiercely debated in the United States, the Swiss go to the polls on Sunday to weigh in on a proposed solution: raising the national hourly minimum wage to 22 Swiss francs ($24.65).
If successful, it would become the world’s highest minimum wage; more than double the 8.50 euros ($11.64) agreed to last month in Germany, which has the European Union’s largest economy, or the $10.10 sought by President Obama.
The referendum is the latest twist on the global debate over the causes and extent of income inequality, what if anything should be done about it, and whether higher minimum wages ultimately help or hurt workers.