Increases in their salaries will be seen today by thousands of employees who are paid the minimum wage after the recent decision of the government.
With the new increase, which is equivalent to an additional 50 euros per month, the minimum wage is set at 713 euros (gross) from 663 euros previously. Respectively, the minimum wage increases to 31.85 euros from 29.62 euros that was from January 1, 2022.
The annual benefit for the employees from the increase is equal to an additional salary (50 euros the monthly increase for 14 salaries = 700 euros). The monthly salary, if the payment of 14 salaries per year is taken into account, amounts to 831.8 euros from 773.5 euros today. The nearly 650,000 workers who are paid the minimum wage will earn an extra wage each year. In other words, a 15th salary is henceforth added to their income.
If we take into account the previous increase of the minimum wage, which took place on January 1, 2022, there is an increase of 9.7% or 63 euros per month (from 650 euros to 713 euros). Given that 14 salaries are paid, the benefit from the double increase of the minimum wage in 2022 is set at 882 euros per year (63 euros for 14 salaries).
The Prime Minister Mr. Mitsotakis also referred to the increase of the minimum wage.
“Today the first basic salary of 713 euros is credited, increased by 50 euros per month. This is an increase of 10% of the minimum wage, which is one more salary per year. Another step from the many that remain to be done – and will be done “to relieve the workers and especially the weakest,” the prime minister said in a post.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
