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A prevailing wage is the median wage paid to workers in a specified locality.

Scope

Prevailing wage may include both wages and benefits. It encompasses the compensation for a worker given for performed labor..

Application

USA

In the Davis-Bacon Act all federal government construction contracts, and most contracts for federally assisted construction over $2,000, must include provisions for paying workers on-site no less than the locally prevailing wages and benefits paid on similar projects.

In the Walsh-Healey Public Contracts Act the federal government set the minimum wage equal to the prevailing wage in an area.

See also

• Wage
• Compensation of employees
• Employee benefit (non-monetary compensation in exchange for labor)
• Employment
• Labour in Economics
• Living wage
• Labor power
• Wage labour
• Wage share
• Wage slavery
• Working class

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