Submitted by Klutzy_Ambition5445 t3_11f6vzb in dataisbeautiful
Maguncia t1_jan32ge wrote
Reply to comment by goodluckonyourexams in [OC] Real minimum wages 2021 by Klutzy_Ambition5445
That's purchasing power, not PPP ("purchasing power parity") i.e. the cost of living adjustment used to convert income into purchasing power. Regardless, the initial statement is true - the reason that Switzerland's minimum wage would theoretically be lower is that it has a high cost of living, and thus its purchasing power is lower than its income.
goodluckonyourexams t1_jan65to wrote
read this: https://en.wikipedia.org/wiki/Purchasing_power_parity
Yes, it would be 30% lower but cost of living isn't in the calculation.
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