Let's hope that the Swiss people will have the brains to push back on this one, as the businesses in the country already have to fight the stupidest Central Bank in the world, after the Japanese one, so this one might be the final blow to the Swiss economy.
(Staffing Industry) The Swiss Federation of Trade Unions (SGB) claims that it has secured sufficient signatures under the Swiss constitution to require the holding of a referendum on the establishment of a national minimum wage, the Federation of European Employers (Fedee) reports.
The proposal for a monthly wage of 4,000 Swiss Francs (3,250.43 Euro) is based on a 42-hour work week. This will be equivalent to an hourly rate of 21.98 Francs (17.86 Euro).
Earlier this year, the Swiss Union for Employment Services (Swissstaffing) expressed concern about the nationwide introduction of a minimum wage. Swissstaffing commented "statistical analysis proves that a nationally binding minimum wage is not an appropriate means against poverty. A nationally binding minimum wage across all industry sectors constitutes an interference with the forces of the free market, which can have far-reaching, unintended and counter-productive consequences."
"The regional and sector-by-sector differences in pay are far too great to introduce a minimum wage, which can do justice to all and it is most likely that it would increase unemployment." Fedee called the level of minimum wage the unions are demanding "a rate that would destabilise and possibly destroy the Swiss economy".
H/T to my friend blbl for sending me a link about this.