Increase of minimum wage in Switzerland is rejected

Switzerland rejected yesterday in a referendum the establishment of a unique minimum wage equivalent to USD 4 500, which would have been the highest in the world.

According to official results, 76.3% of voters rejected the establishment of the minimum wage of 22 Swiss Francs per hour (USD 25) for 42 hours a week because they believe that would end up harming the economy.

The right, the agricultural sector,  the parliament and the Government were against this minimum wage, arguing that it poses a threat to jobs and there are already minimum wages in some branches.

The minimum wage would have been the highest in the world, far superior to that from France, Germany and Spain. Much of the population feared that it would cause an increase in unemployment, almost nonexistent in Switzerland (3.2% in April).