Nigeria's declining real wages: When minimum-wage workers are unable to support their families

The minimum wage is the lowest legally allowed income below which no worker in salaried employment should be paid. The rate varies across cities and countries. Contrastingly, it is higher in advanced countries than in developing countries because of the differences in the costs of living. For instance, with $15, one could pay for only one haircut in the United States. Converted, this same amount will buy roughly 30 haircut services in low and middle-income countries.

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