It refers to the amount of money an employee is paid for each hour of work they perform. It is a common method of compensation for jobs that are paid hourly, such as part-time or temporary positions. The hourly rate is typically agreed upon between the employer and the employee and may vary depending on factors such as the nature of the job, the level of skill required, and local labor market conditions. The total amount earned by an employee with an hourly salary can vary weekly, depending on the number of hours worked.
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