Denmark, Finland, Iceland, Norway and Sweden. None of these nations have an minimim hourly wage enshrined in law. Instead many of the base terms of employment, including wages, are decided via collective bargaining between sector trade unions and representatives of public sector and business interest organizations.
Minimum wage decided by politics is something taken for granted in many parts of the world, but ultimately it’s a question that most of all affects the suppliers (employees) and buyers (employers). The government will always be behind the times in legislation and have many other interests to juggle than yours - don’t just be a passive participant in the market.
I live in Sweden by the way, so feel free to ask me questions on the topic and I’ll do my best to answer.
It’s mainly about gender pay equality, but the EU has been working on that for some decades now. They’re now basically shifting into next gear.
Apart from that, there’s going to be an immediately visible difference for all employees as the average pay of their colleagues as well as the expected development of their own pay will have to be made transparent to them. Also, it will be forbidden to ask for your current/ previous pay during job interviews.