MINIMUM WAGE IN THE BALTICS
DOI:
https://doi.org/10.17770/iss2024.8340Keywords:
Baltics, economy, Estonia, immigration, inflation, Latvia, Lithuania, minimum wage, price changes, redundancy, researchAbstract
The topic being analyzed in this article is Minimum wages in the Baltic countries. Authors paper analyzes the effect of the rise of the minimum wages within the Baltic States, particularly in Lithuania. Authors utilized SurveyMonkey website to aid in obtaining information about the effect of the minimum wage in Lithuania- particularly to do with price changes, redundancy as well as differences in the effect of minimum wage with respect to differing genders as well as ages and wage bands. Higher minimum wages, despite being controversial, are observed to be beneficial for the economy due to their effects on immigration and the perception of locals on their ability to cope with prices rising as well as their perception on experiencing the benefits of minimum wages increasing. Upon completion of survey, authors used SPSS software to effectively analyze results and determine any correlations.
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