Swiss Voters Shoot Down $25 Minimum Wage

By a more than three-to-one margin, Swiss voters rejected a proposal to institute the country’s first minimum wage at $25 an hour. Trade unions there have argued that the lack of state-mandated minimum pay in Switzerland, which has among the world’s highest living costs, was putting many low-paid workers at a disadvantage. However, nine out of ten full-time workers in the country earn more than the proposed minimum, and public sentiment in Switzerland tends to look unfavorably on government interference in business matters.