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throwaway2037 • last Tuesday at 4:15 PM • 1 reply • view on HN

    > Geneva has the highest minimum wage in the world
I was surprised when I read this, but I Googled, and it looks true. Minimum wage in Geneva is 24.59 CHF per hour. Wow! With 1.5 working parents, you can definitely live on 1.5 * 2000 * 24.59 CHF = 73,770 CHF (92.5K USD) per year in Geneva. (To be clear: I am not writing this sarcastically. I think 74K CHF per year will definitely not be "working poor" in Geneva.)

Replies

throwaway85825 • last Wednesday at 7:07 AM

Nominal is an utterly useless metric. The value of something is what you can get for it in trade.