# Prevailing Wage

**IRI:** https://folio.openlegalstandard.org/RDTPef6LjCeQg2TUb7aY88W

## Labels

## Definition

The "Prevailing Wage" is the hourly wage, typically established by government authorities, that is paid to workers in a specific locality or industry for a particular type of labor. It is intended to ensure that workers on government-funded projects or in certain sectors receive a fair and competitive wage, often based on the average wage rates for similar work in the region.

## Sub Class Of

- https://folio.openlegalstandard.org/RiYwKEna4NZ311TVYJ2yCj

## See Also

- https://folio.openlegalstandard.org/RqiDHswc43JoKvLEHWMGvR

**Deprecated:** False