Prevailing wage

From Wikipedia, the free encyclopedia

This article does not cite any references or sources. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. (February 2008)

A prevailing wage is the median wage paid to workers in a specified locality.

Contents 1 Scope 2 Application 2.1 USA 3 See also

[edit] Scope

Prevailing wage may include both wages and benefits. It encompasses the compensation for a worker given for performed labor..

[edit] Application

[edit] USA

In the Davis-Bacon Act all federal government construction contracts, and most contracts for federally assisted construction over $2,000, must include provisions for paying workers on-site no less than the locally prevailing wages and benefits paid on similar projects.

In the Walsh-Healey Public Contracts Act the federal government set the minimum wage equal to the prevailing wage in an area.

[edit] See also

• Wage
• Compensation of employees
• Employee benefit (non-monetary compensation in exchange for labor)
• Employment
• Labour in Economics
• Living wage
• Labor power
• Wage labour
• Wage share
• Wage slavery
• Working class