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wage
(redirected from Hourly wage)

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wage

Pay given to labour. The pay of manual workers is usually called wages, compared to salaries paid to nonmanual workers. The basic wage of a worker is the wage received for working a normal week. On top of the basic wage, the worker may receive overtime pay and other bonus payments. The basic wage plus these extra payments is called the worker's earnings. The wage rate is the wage over a period of time, such as an hour or week.

For example, a worker may be on £5 an hour for a basic working week of 40 hours. Thus, his or her weekly pay is £200. If he or she works four hours of overtime at time and a half, the total earnings in the wage packet for the week would be £230. The equilibrium wage for a group of workers in a free market is fixed by the forces of demand and supply.



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? Mentioned in ? References in periodicals archive
 
Of the four household types noted in the study, a single parent raising two children faced the highest hourly wage need of $30 in Los Angeles County.
FAMILIES MUST EARN FOUR TIMES MINIMUM WAGE L.A. COST-OF-LIVING BRUTAL ... by Daily News (Los Angeles, CA)
Line technicians will see their hourly wage climb to $34.
New contract boosts SUB workers' wages by The Register-Guard (Eugene, OR)
In September a front-page New York Times story reported that while productivity is up, workers aren't getting their fair share of the gains: The real median hourly wage is down 2 percent since 2003, and wages and salaries now make up the smallest share of 6DP since at least 1947.
Hidden wages by Mangu-Ward, Katherine / Reason
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