What does prevailing wage mean Meaning and Definition
What does prevailing wage mean
Pronunciation
/ˈprəvəɪɪŋ/
Part of Speech
Noun
Definition
The standard hourly wage paid to most workers in a specific geographic area or industry, taking into account local labor market conditions and labor costs.
Examples
- The union demanded that the company pay prevailing wages for the construction project.
- The government requires contractors to pay prevailing wages to workers on public projects.
Synonyms
- Standard rate
- Average wage
Antonyms
- Subminimum wage
- Unfair wage
Etymology
The term “prevailing wage” originated in the United States in the late 19th century, derived from the concept of “prevailing custom” in labor negotiations.
Usage Notes
Prevailing wage is often used in the context of labor law, construction projects, and government contracts.
Cultural References
The term has appeared in various news articles, legal cases, and industrial reports, showcasing its relevance in the modern labor market.
Idiomatic Expressions or Phrases
A “prevailing wage” is often used interchangeably with “standard wage” or “average wage” in everyday conversations.
Related Words or Phrases
- Minimum wage
- Living wage
- FLSA (Fair Labor Standards Act)
Collocations
Prevailing wage often appears alongside terms like “union”, “construction”, “contract”, and “labor laws”.
Frequency of Use
The term “prevailing wage” is commonly used in industries, government reports, and labor-related discussions, making it a significant term in modern language.
Common Misspellings
The most common misspelling of the term is “prevailing wache”, likely due to the similarity in spelling and pronunciation.