The minimum wage is the least amount of money that employees of a business can be paid. Around the world, the minimum wage is enforced as a law that every company must follow. If companies do not give their employees at least the minimum wage, the companies will be forced to pay an expensive fine for breaking the law.
Minimum wage is a relative term. Different countries have different minimum wages. Nunavut in Canada has a minimum wage of $11.00 per hour. Ontario, another place in Canada has a minimum wage of $10.25 per hour.
Some people think the minimum wage should be raised, so poor people will have more money. Others think it is worse because the government will not have enough money to pay all the employees, so they will raise the taxes or raise the inflation. Some people think that the minimum will hurt employees because companies only hire employees whose labor is worth the price they are required to pay. They think that if the minimum wage is raised employees will lose their job because companies cannot afford to pay them the raised minimum wage.