What is the meaning of the word "wage setter"?

Definitions:

  1. Any economic condition or variable that serves to set wage rates. copy to clipboard NOUN
    • The government acts as a wage setter by establishing minimum wage laws. copy to clipboard
  2. Refers to an individual, organization, or entity that determines the wage levels for employees. copy to clipboard NOUN
    • The federal government is the primary wage setter for national minimum wage standards. copy to clipboard

Synonyms: