Question:

What is minimum wage and what do you get paid?

Answer:

The current minimum wage for New York is $7.15 an hour. AnswerParty Guides are paid based on Guide Status and # of hours logged.

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New York

New York is a state in the Northeastern region of the United States. New York is the 27th-most extensive, the third-most populous, and the seventh-most densely populated of the 50 United States. New York is bordered by New Jersey and Pennsylvania to the south and by Connecticut, Massachusetts and Vermont to the east. The state has a maritime border with Rhode Island east of Long Island, as well as an international border with the Canadian provinces of Ontario to the west and north, and Quebec to the north. The state of New York is often referred to as New York State, so as to distinguish it from New York City.

New York City, with a Census-estimated population of over 8.3 million in 2012, is the most populous city in the United States. Alone, it makes up over 40 percent of the population of New York State. It is known for its status as a center for finance and culture and for its status as the largest gateway for immigration to the United States. New York City attracts considerably more foreign visitors than any other US city. Both the state and city were named for the 17th century Duke of York, future King James II of England.

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Human resource management

Human resource management (HRM, or simply HR) is the management process of an organization's workforce, or human resources. It is responsible for the attraction, selection, training, assessment, and rewarding of employees, while also overseeing organizational leadership and culture and ensuring compliance with employment and labor laws. In circumstances where employees desire and are legally authorized to hold a collective bargaining agreement, HR will also serve as the company's primary liaison with the employees' representatives (usually a labor union).

HR is a product of the human relations movement of the early 20th century, when researchers began documenting ways of creating business value through the strategic management of the workforce. The function was initially dominated by transactional work, such as payroll and benefits administration, but due to globalization, company consolidation, technological advancement, and further research, HR now focuses on strategic initiatives like mergers and acquisitions, talent management, succession planning, industrial and labor relations, and diversity and inclusion.

Macroeconomics
Minimum wage

A minimum wage is the lowest hourly, daily or monthly remuneration that employers may legally pay to workers. Equivalently, it is the lowest wage at which workers may sell their labor. Although minimum wage laws are in effect in many jurisdictions, differences of opinion exist about the benefits and drawbacks of a minimum wage.

Supporters of the minimum wage claim it increases the standard of living of workers, reduces poverty, reduces inequality, boosts morale and forces businesses to be more efficient. Critics of the minimum wage claim it actually increases poverty, increases unemployment (particularly among low productivity workers), and is damaging to businesses.

Economics
Industrial relations

Industrial relations is a multidisciplinary field that studies the employment relationship. Industrial relations is increasingly being called employment relations or employee relations because of the importance of non-industrial employment relationships; this move is sometimes seen as further broadening of the human resource management trend. Indeed, some authors now define human resource management as synonymous with employee relations. Other authors see employee relations as dealing only with non-unionized workers, whereas labor relations is seen as dealing with unionized workers. Industrial relations studies examine various employment situations, not just ones with a unionized workforce. However, according to Bruce E. Kaufman "To a large degree, most scholars regard trade unionism, collective bargaining and labor-management relations, and the national labor policy and labor law within which they are embedded, as the core subjects of the field."

Initiated in the United States at end of the 19th century, it took off as a field in conjunction with the New Deal. However, it is generally a separate field of study only in English-speaking countries, having no direct equivalent in continental Europe. In recent times, industrial relations has been in decline as a field, in correlation with the decline in importance of trade unions, and also with the increasing preference of business schools for the human resource management paradigm.


Minimum wage law

Minimum wage law is the body of law which prohibits employers from hiring employees or workers for less than a given hourly, daily or monthly minimum wage. More than 90% of all countries have some kind of minimum wage legislation.

Until recently, minimum wage laws were usually very tightly focused. In the U.S. and Great Britain, for example, they applied only to women and children. Only after the Great Depression did many industrialized economies extend them to the general work force. Even then, the laws were often specific to certain industries. In France, for example, they were extensions of existing trade union legislation. In the U.S., industry specific wage restrictions were held to be unconstitutional. The country's Fair Labor Standards Act of 1938 established a uniform national minimum wage for nonfarm, nonsupervisory workers. Coverage was later extended to most of the labor force.


Living wage

In public policy, a living wage is the minimum income necessary for a worker to meet needs considered]by whom?[ basic. This is not necessarily the same as subsistence, which refers to a biological minimum, though the two terms are commonly confused. These needs include shelter (housing) and other incidentals such as clothing and nutrition. In some nations such as the United Kingdom and Switzerland, this standard generally means that a person working forty hours a week, with no additional income, should be able to afford the basics for quality of life, food, utilities, transport, health care, and minimal recreation, one course a year to upgrade their education and childcare although in many cases education, saving for retirement, and less commonly legal fees and insurance, or taking care of a sick or elderly family member are not included. It also does not allow for debt repayment of any kind. In addition to this definition, living wage activists further define "living wage" as the wage equivalent to the poverty line for a family of four. This is two adults working full-time with one child age 9 and another of 4.

The living wage differs from the minimum wage in that the latter is set by law and can fail to meet the requirements to have a basic quality of life and leaves the family to rely on government programs for additional income. It differs somewhat from basic needs in that the basic needs model usually measures a minimum level of consumption, without regard for the source of the income.

Remuneration is the compensation that one receives in exchange for the work or services performed. Typically, this consists of monetary rewards, also referred to as wage or salary. A number of complementary benefits, however, are increasingly popular remuneration mechanisms.

Remuneration can include:

Socialism
Labour relations

Labor relations is the study and practice of managing unionized employment situations. In academia, labor relations is frequently a subarea within industrial relations, though scholars from many disciplines--including economics, sociology, history, law, and political science--also study labor unions and labor movements. In practice, labor relations is frequently a subarea within human resource management. Courses in labor relations typically cover labor history, labor law, union organizing, bargaining, contract administration, and important contemporary topics.

In the United States, labor relations in the private sector is regulated by the National Labor Relations Act. Public sector labor relations is regulated by the Civil Service Reform Act of 1978 and various pieces of state legislation. In other countries, labor relations might be regulated by law or tradition.

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