wagefloor
nounUK /ˈweɪdʒ.flɔː/
US /ˈweɪdʒ.flɔːr/
The lowest amount of money a worker can be paid by law.
The government raised the wagefloor to help low-paid workers earn more.
OTHER MEANINGS
2. A minimum price set for a good or service so it cannot be sold for less.
The union agreed on a wagefloor for all contract workers.
3. The lowest level that pay or earnings are allowed to reach in a company.
Managers must keep every salary above the company wagefloor.
4. A guaranteed base amount used in bargaining or policy talks.
Negotiators treated the wagefloor as the starting point for discussions.