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Minimum Level of Hourly Pay in Russia

Author: Svetlana V. Orekhova, Cand. Sc. (Econ.), Associate Prof. of Enterprises Economics Dept., Ural State University of Economics

Abstract: Currently the bill on implementing the system of hourly pay and introducing the minimum rate of hourly pay in lieu of monthly salary and minimum monthly wage is widely discussed in Russia. The article examines advantages and disadvantages of the proposed pay system and comparative analysis of minimum hourly wage rates in various countries. The author’s conclusions drawn in the course of analysing the prospects of introducing the system of hourly pay do not coincide with the opinion of the bill’s authors.

Keywords: Minimum rate of hourly pay, enterprises’ adaptation mechanisms to the labour market