Minimum wage in the United States

Prime Minister Kyriakos Mitsotakis marked the increase of the minimum wage, which came into effect on Monday, with a visit to the Sun (Ilios) spice factory in Rentis, Piraeus.

The increase in the minimum wage is a positive development. The value of labor was one of those areas that took the brunt of the internal devaluation during Greece's economic crisis. 

But cultivating an economic environment that will create high-paying jobs requires much more complex and painstaking efforts.

The increase in the minimum wage also creates pressures for salary increases for other employees in Greece, especially in small businesses and some industries, such as services.

The road to increasing the minimum wage to 950 euros and the average salary to €1,500 by 2027, as the government has pledged, is difficult and long.

According to academics and labor experts, the goal is hard to achieve even at nominal prices. As they say, after the increase in the minimum wage, the average has been set at €1,200.

The average monthly earnings of private sector employees improved in 2023, largely thanks to the increase in the minimum wage, which pushed up all pay brackets.

In a move to address economic concerns and improve the standard of living for workers, the Greek government is set to increase the minimum wage by approximately 5%, raising it from the current 780 euros to a range of 820-830 euros.

Treasury and Finance Minister Mehmet Şimşek has said in a New Year's message that the positive results of the government's economic program will be achieved in 2024.

The monthly met minimum wage will be 17,002 Turkish Liras ($578) in 2024 for millions of employees, Labor and Social Security Minister Vedat Işıkhan has announced.

The new minimum wage level is 49 percent higher compared with July, when the wage was increased in a mid-year adjustment. It marks a 100 percent hike from January last year.

The commission, comprised of representatives from the government, employers' and labor unions, is set to hold the first round of talks on the minimum wage for millions of workers today.

The Minimum Wage Determination Commission will meet four times in December before announcing the wage, which will take effect in 2024.

The minimum wage in Croatia will increase by 20% from the New Year - the first increase since the country adopted the euro as its main currency at the start of the year.

The government in Zagreb decided on Wednesday that the minimum monthly salary for 2024 will be 840 euros gross and 677 euros net.