<owl:Class xmlns="https://folio.openlegalstandard.org/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:v1="http://www.loc.gov/mads/rdf/v1#" xmlns:owl="http://www.w3.org/2002/07/owl#" xmlns:rdf="http://www.w3.org/1999/02/22-rdf-syntax-ns#" xmlns:xsd="http://www.w3.org/2001/XMLSchema#" xmlns:folio="https://folio.openlegalstandard.org/" xmlns:rdfs="http://www.w3.org/2000/01/rdf-schema#" xmlns:skos="http://www.w3.org/2004/02/skos/core#" rdf:about="https://folio.openlegalstandard.org/RDTPef6LjCeQg2TUb7aY88W">
  <rdfs:subClassOf rdf:resource="https://folio.openlegalstandard.org/RiYwKEna4NZ311TVYJ2yCj"/>
  <rdfs:label>Prevailing Wage</rdfs:label>
  <rdfs:seeAlso rdf:resource="https://folio.openlegalstandard.org/RqiDHswc43JoKvLEHWMGvR"/>
  <skos: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.</skos:definition>
</owl:Class>