wage rates
Wage rates refer to the amount of money paid to workers for their labor, typically expressed as an hourly, daily, or annual figure. These rates can vary based on factors such as the type of job, the industry, the worker's experience, and the region where the work is performed.
Employers often set wage rates to attract and retain employees while remaining competitive in the market. Additionally, wage rates can be influenced by government regulations, such as minimum wage laws, which establish the lowest legal pay that can be offered to workers in a specific area.