Wage

Empirical methods Prescriptive and policy A wage is payment made by an employer to an employee for work done in a specific period of time.

[5] Following the unification of the city-states in Assyria and Sumer by Sargon of Akkad into a single empire ruled from his home city circa 2334 BC, common Mesopotamian standards for length, area, volume, weight, and time used by artisan guilds were promulgated by Naram-Sin of Akkad (c. 2254–2218 BC), Sargon's grandson, including shekels.

[6] Codex Hammurabi Law 234 (c. 1755–1750 BC) stipulated a 2-shekel prevailing wage for each 60-gur (300-bushel) vessel constructed in an employment contract between a shipbuilder and a ship-owner.

Market forces are perhaps more dominant in the United States, while tradition, social structure and seniority, perhaps play a greater role in Japan.

[12][citation needed] Even in countries where market forces primarily set wage rates, studies show that there are still differences in remuneration for work based on sex and race.

For example, according to the U.S. Bureau of Labor Statistics, in 2007 women of all races made approximately 80% of the median wage of their male counterparts.

The Fair Labor Standards Act establishes a minimum wage at the federal level that all states must abide by, among other provisions.