Minimum wage in the United States

An increase of between 5.5% and 9.5% is expected to be given to the minimum wage on April 1st after the completion of the prescribed procedure for determining the amount of the wages.

According to information, the new minimum wage will be over 751 euros (an increase of 5.5%), while in the most optimistic scenario it will reach close to 780 euros (an increase of 9.5%).

The increase in minimum wage for 2023 should be high enough to compensate for losses in purchasing power or the hike should even be above inflation rate, Şekib Avdagiç, head of the Istanbul Chamber of Commerce (İTO) has said.

Against the background of inflation affecting European countries, minimum wage workers in 15 out of 21 Member States with statutory minimum wages registered a decline in their wages in real terms between 1 January 2021 and 1 January 2022. This was despite comparatively large increases in nominal rates in the EU during the period.

As of Sunday, May 1, the minimum wage increased by 7.5 pct, on top of the 2 pct increase introduced in January 2022, rising to 713 euros per month from 663 euros previously. The corresponding minimum daily wage will increase to 31.85 euros from 29.62 euros.

Moving in the right direction is the increase of the minimum wage, as it strengthens the income of the low paid and at the same time can "breathe life" in to the market, as noted in a statement by the president of the Athens Chamber of Commerce, Giannis Chatzitheodosiou.

The Minister of Labor, Kostis Hatzidakis, spoke on the "Koinonia Ora MEGA" television show about the increase of the minimum wage.

High expectations for the increase of the minimum wage, which may even exceed 6%, are cultivated by the government, while the process has entered its final stage with the Centre of Planning and Economic Research-KEPE today, Friday 15 April, to deliver to the Minister of Labor the conclusions of the dialogue between scientific and social actors.

The minimum wage will remain at the level of BGN 710 (EUR 363) until 2025, it is clear from the draft of the new medium-term budget forecast of the Ministry of Finance. It envisages a lower rate of annual growth of pensions - from July 1, 2023, it will be 9.1 percent, and in the coming years, the indexation will be respectively 6.9 and 5.4 percent.

Ljubljana – Labour Minister Janez Cigler Kralj said on Thursday the minimum hourly pay for student work would be raised to EUR 5.89 gross this week. Thus he responded to criticism from the opposition Left and the Student Organisation that student pay had not been adjusted to the minimum wage raise.

Ljubljana – The government adopted a new stimulus bill on Monday, with the extension of the furlough scheme and minimum wage subsidies as the key measures that are to help companies weather the epidemic.