Minimum wage
Venezuela minimum wage to rise by 50% ‘to combat inflation’
Venezuela’s government has announced a 50% increase in the minimum wage and pensions amid runaway inflation.
President Nicolas Maduro says the move will protect jobs and incomes. Critics say it may worsen the crisis.
Turkey to raise minimum wage by 8 percent to 1,400 liras
Turkey will raise the monthly minimum wage by 8 percent to 1,404 Turkish liras ($397), Labor Minister Mehmet Müezzinoğlu said at a press conference on Dec. 29 in Ankara, a level that trade unions did not welcome.
Macedonian Parties Fuel Dreams of Pay Hikes
While experts praise Macedonian parties for promising an increase in the minimum monthly wages as a social step in the right direction, they warn that promises of major hikes in average pay rates depend more on economic factors than on politicians' election-time promises.
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Dollar and euro rise to record against lira
The U.S. dollar reached a historic high of 3.4998 Turkish Liras on Dec. 1 in the afternoon, as the euro rose to 3.7162, again an all-time high.
The Borsa Istanbul also lost some 2 percent.
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Bulgaria's Minimum Wage Goes Up as of Next Year
Bulgarian MPs have approved the a new minimum wage that will be introduced on January 01, 2017.
Starting from that day, its value will be BGN 460 (EUR 230), up from the current value of BGN 420.
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Brussels and creditors press for reforms on social security and labour matters
Brussels are intensifying pressure on the Greek government for immediate reforms on labour-related issues.
Bulgaria's Average Monthly Wage Lowest in EU, Balkan Countries
Bulgaria ranks last in terms of income not only among EU member-states but also in the region, showed a survey of the Confederation of Independent Syndicates in Bulgaria (KNSB).
The nominal amount of the average monthly wage in Bulgaria of EUR 420 is about 5.5 times lower than the average levels for the EU, where it is EUR 2,293.
Second review with “Troika” marked by numerous disagreements
The first meeting between the institutions and Greek Labour Minister George Katrougalos ended on Sunday, and despite its exploratory nature it became apparent that the two sides remain entrenched in their positions on the issues of mass layoffs and minimum wage.
Working 9-5 is no longer the norm
Part-time or shift work has now become the norm in the Greek labor market, accounting for six out of every 10 new jobs created last month, according to Labor Ministry figures that reveal unprecedented changes in the features of employment in Greece.
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Anti-austerity protest held in Athens
Supporters of the communist-affiliated union PAME take part in an anti-austerity rally in front of Parliament in Athens, Monday. Thousands of workers protested against austerity measures including changes in labor laws, reinstating collective bargaining agreements and increasing the amounts of the slashed minimum wage and pensions. [Yorgos Karahalis/AP]
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