Abstract

The 2024 annual review of minimum wages presents the most recent rates of national minimum wages and recalls how they were set and agreed upon during 2023. It includes information on minimum wages set in sectoral collective agreements in countries without national minimum wages. The setting of the 2024 minimum wage rates were influenced by increasing levels of inflation, and also by the early effects of the EU directive on adequate minimum wages, which should be transposed into national law by November 2024. The report reviews national wage setters’ preparations for this EU directive and outlines possible changes. There is also a focus on the income of households with minimum wage earners and how these householders feel they can make ends meet. The report also presents the latest research findings on minimum wages, published during 2023.

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