An Empirical Study On The Minimum Wage Standard In Shandong Province

The goal of the minimum wage policy is to safeguard social harmony and to protect the legitimate rights and interests of low-income workers as vulnerable groups.Therefore,the minimum wage also shows the national attention for human resource,the willing to transformating economic restructure and achieve sustained and healthy economic development.It's a challenge for government to maintain social fairness and efficiency,avoid the negative effect to economy could produce of the minimum wage adjustment,to maximize the maintenance of good order of social economy and reasonable efficiency.In view of this,the minimum Nwage adjustment programme is of great significance,only the adjustion which is the most suitable for local economic development is the actual minimum wage levelShandong province is located in the east of China.The GDP of Shandong Province has been in top three among all the provinces in China in many years.Shandong province has a high level of economic development,steady growth and stable employment.In Shandong Province,the minimum wage was introduced as early as 1994.Since 1994,the minimum wage standard of Shandong province has been adjusted several times in terms of the level,the absolute amount and the adjustment frequency.Through contrast,by the end of 2016,the lowest minimum wage standard in shandong province-1390 yuan/month belongs to medium level in the country,but compared with other regions of the eastern belongs to the lower levels.At the same time,the minimum wage in Shandong accounts for the average monthly wage of workers and the proportion of GDP per capita has dropped year by year.Using the multiple regression analysis method to establish the regression model of the minimum wage standard and its influencing factors in Shandong Province,we find out that the government of shandong province set the standard mainly from the perspective of workers,aims to protect the rights and interests of workers.So the Consumption expenditure of urban residents and Urban minimum living security are the most significant factors that influence the minimum wage standard of Shandong province.However,for some important index can reflect the current social and economic development level,such as GDP has not been able to enter into the model.The empirical model reflects the relevant government departments exist some unreasonable in setting minimum wage standards,which should be considered.Finally according to the preceding chapters analysis,the paper put forward the problems existing in the minimum wage system,and analyzes the feasibility of further adjustment and give the advice,including social,the government,workers and other subjects to change ideas,to strengthen the understanding and perfect relevant legislation at the same time,increase the degree of information disclosure,eliminate the information asymmetry and so on.