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Minimum Wage
The lowest legal hourly pay for many workers, set by law or policy.
Secondary Labor Market
Employment sectors characterized by low pay, insecure job tenure, and poor working conditions.
Wage Rate
The fixed amount of compensation or payment a worker receives from the employer in exchange for labor or services, typically expressed per hour or year.
Productive Demand
The demand for goods and services that are needed to produce other goods and services.
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