The minimum wage in the EU in 2015

Posted by Veronika 17/04/2015 at 09h30

The minimum wage in the EU in 2015
 
The minimum wage in European countries regularly increases. Since 1 January 2015, the minimum wage increased from 8, 500 CZK per month to 9, 200 CZK per month or from 50, 60 CZK per hour to 55 CZK per hour. However, the Czech Republic still occupied the fourth lowest position of the EU Member States, lower minimum wage is only in Bulgaria, Romania and Lithuania. The minimum monthly wage is higher than 40 thousand Czech crowns in Germany, the Netherlands, Belgium, Great Britain; it even exceeds the 50 thousand crowns in Luxembourg. Minimum wage isn´t defined by legislation in six EU countries (Sweden, Finland, Denmark, Italy, Cyprus and Austria) - there it is usually negotiated in collective agreements or tariffs exist for certain professions. In the table below, there are EU Member States which have a minimum wage set out by legislation.
 
 
EU Member States The minimum wage in the national currency Approximate conversion to CZK
Luxembourg 1 923 EUR 52 584 CZK
Great Britain 1 127 GBP 42 707 CZK
Belgium 1 502 EUR 41 072 CZK
Netherlands 1 502 EUR 41 072 CZK
Germany 1 473 EUR 40 279 CZK
Ireland 1 462 EUR 39 978 CZK
France 1 458 EUR 39 869 CZK
Slovenia 789 EUR 21 575 CZK
Malta 720 EUR 19 688 CZK
Spain 649 EUR 17 747 CZK
Greece 586 EUR 16 024 CZK
Portugal 505 EUR 13 809 CZK
Poland 1 750 PLN 11 931 CZK
Croatia 3 030 HRK 10 926 CZK
Estonia 390 EUR 10 664 CZK
Slovakia 380 EUR 10 391 CZK
Latvia 360 EUR 9 944 CZK
Hungary 105 000 HUF 9 678 CZK
Czech Republic 9 200 CZK 9 200 CZK
Lithuania 300 EUR 8 204 CZK
Romania 975 RON 6 044 CZK
Bulgaria 360 BGN 5 032 CZK

Note: converted at the current exchange rate on 14 April 2015

Opinions for the minimum wage are different. The minimum wage may be an important motivating factor. In short - the work should be worth it and the standard of living of people who are working for minimum wage should be higher than if they were long-term unemployed. However, we must take into account the system of taxation and insurance - the high minimum wage increases labor costs of employers. The work is expensive and it is negative for business development and supply of labor, because they usually occur layoffs. The minimum wage is around 40% of the average wage in Western Europe. In the Czech Republic, the average wage is around 27 000 CZK, which means about 34% of the average wage.
 

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