abstract: 'Minimum wage raises debate and controversy since its introduction.

  Proponents reported its justification in particular related to the task

  of ensuring income to workers, which guarantees them their basic needs.

  Opponents argue the impacts of rising unemployment. Legislative and

  institutional setting of the lower limit for wages in the economy does

  not allow the wages of certain employees to decline to the level of

  equilibrium wages in the event of adverse economic activity, which may

  cause barriers in employing particular risk groups in the labor market.

  The modification of the minimum wage is a serious problem, since it

  represents the fundamental elements of the macroeconomic and

  macro-regulation in the country, the impact on the revenue policy, price

  policy, pension policy, as well as their own employees and employers and

  other groups. The aim of this paper is to examine the correlation

  between the increase in the minimum wage and the unemployment rate in

  the Slovak Republic with a focus on specific groups in the labor market

  and regional differentiation. Our contribution contains a justification

  of the existence and function of the minimum with a proposal for its

  modification, while it also focuses on the future shape of minimum wages

  in Slovakia within the changed socio-economic conditions. Consumption

  and investments are the driving force of the economy but the investment

  is to some extent driven by the anticipated consumption. Only household

  consumption accounted for a significant upward impetus to the Slovak

  economy, which would not be possible without increasing the employment

  and wage growth.'
affiliation: 'Sika, P (Corresponding Author), Univ Econ Bratislava, Fac Natl Econ,
  Dept Social Dev \& Labour, Bratislava, Slovakia.

  Sika, Peter, Univ Econ Bratislava, Fac Natl Econ, Dept Social Dev \& Labour, Bratislava,
  Slovakia.'
author: Sika, Peter
author-email: peter.sika@euba.sk
author_list:
- family: Sika
  given: Peter
booktitle: ECONOMIC AND SOCIAL DEVELOPMENT (ESD)
da: '2023-09-28'
editor: Primorac, Z and Bussoli, C and Recker, N
files: []
issn: 1849-7535
keywords: Minimum wage; Unemployment; Regional differentiation
keywords-plus: EMPLOYMENT
language: English
note: '16th International Scientific Conference on Economic and Social

  Development - The Legal Challenges of Modern World, Split, CROATIA, SEP

  01-02, 2016'
number-of-cited-references: '20'
orcid-numbers: Sika, Peter/0000-0001-6393-7325
pages: 587-596
papis_id: b42826bcf13e48f4fd712ee98c5da60d
ref: Sika2016relationshipminimum
researcherid-numbers: Sika, Peter/ADT-5146-2022
series: International Scientific Conference on Economic and Social Development
times-cited: '1'
title: THE RELATIONSHIP OF THE MINIMUM WAGE AND UNEMPLOYMENT IN THE SLOVAK REPUBLIC
type: proceedings
unique-id: WOS:000391254400060
usage-count-last-180-days: '0'
usage-count-since-2013: '4'
web-of-science-categories: Business; Criminology \& Penology; Economics; Law
year: '2016'