The vast majority of employment is not under contract. That is why employment can be severed by either party at any time. So an employer could change a wage on an employee but there is nothing saying the employee has to accept it.
No there is an employment agreement, but not a contract. So the employee and employer both agree to the terms of the work. This is just no requirement for the agreement to continue if either party wants to sever the agreement.
The vast majority of employment is not under contract. That is why employment can be severed by either party at any time. So an employer could change a wage on an employee but there is nothing saying the employee has to accept it.
Not under contract? What does that mean? Do people just walk in and work there whenever?
No there is an employment agreement, but not a contract. So the employee and employer both agree to the terms of the work. This is just no requirement for the agreement to continue if either party wants to sever the agreement.