New requirements for the minimum wage in the EU. The share of consumers who receive the minimum wage is more than 10% in the whole of Europe. According to the new directive of the EC, it is necessary to allocate an international level of 60% of the average household wage to the minimum wage. A decent standard of living is of paramount importance in a society, writes Money.bg.
A key area for achieving a decent standard of living is to ensure that the minimum wages in the various member states are adequate.
The new EC directive on minimum wages must enter into force by November 15 this year, writes Euronews. There is still no minimum wage in five EC states.
Twenty-two of the 27 EC member states have a national minimum wage. Denmark, Italy, Austria, Finland and Sweden, however, are exceptions to this rule. Kip introduced this at the beginning of last year.
For the last 10 years – candidates and potential candidates have the national minimum wage. Montenegro, Moldova, North Macedonia, Greece, Albania, Serbia, Turkey and Ukraine have it. B Bocna and Xepcegovina and Kocovo are not there yet.
The European Association of Labor and Employment (EACT) countries, Sweden, Switzerland and Iceland, do not have a national minimum wage.
How do minimum wages differ in EC?
The annual minimum wage is below 1000 euros in almost two-thirds of the EC
The minimum wages for EC employees differ significantly, as the monthly minimum wages currently range from 477 euros in Bulgaria to 2,571 euros per month in Luxembourg. The minimum wage is below 1,000 euros in 14 of the 22 member states that have a national minimum wage.
Bulgaria is in the last place according to this indicator EC. The minimum wage in candidate member Albania is 385 euros, and in North Macedonia it is 360 euros.
The minimum wage is over 2,000 euros in Luxembourg, Iceland, Holland and Germany, while the figure for France is 1,767 euros and 1,323 euros for Spain.
The numbers start from 360 euro in North Macedonia to 613 euro in Typcia in front of the candidates and potential candidates. Bulgaria has a lower minimum wage than Turkey (613 euro), Serbia (544 euro) and Montenegro (532 euro), which is ahead of the candidate countries.
The share of citizens receiving the minimum wage differs significantly in different European countries. The minimum wage is important in some countries where there is more work with lower incomes than in other countries.
In 2022, minimum wages represent less than 50% of minimum wages in 10 EC countries according to the Organization for Economic Cooperation and Development (OECD). Before them are Spain, Hungary, Iceland, Croatia, Lithuania, Holland, Czechia, Estonia, Belgium and Latvia.
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