Purchasing power

A few years ago, the Swiss overwhelmingly rejected a minimum wage of SFr 22 per hour, the equivalent of nearly $25. 

To Americans, this dismissal was understandable considering their minimum wage was and still is $7.25, and a proposal to raise it to $10.10 per hour is often debated. Many say a $10.10 minimum wage could push half a million people out of work.

As it turns out, when adjusting for purchasing power parity, that $25 hourly wage translates to $14, according to Bloomberg.

It's still high by American standards, but not unheard-of. As of January 1, 2018,  Seattle adopted a $15.45 per-hour minimum wage.

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