Statutory minimum wages

17 Junij 2020 Tematike: Plače in dohodki Minimalne plače

Notes

Methods of conversion

* Converted values

  • Rates for non-eurozone countries (Bulgaria, Croatia, Czechia, Hungary, Poland, Romania, United Kingdom) were converted to Euro by applying the exchange rate applicable at the end of previous reference month;
  • Rates for countries with more than 12 wage payments per year (Greece, Portugal, Spain) were converted by dividing the annual sum of the minimum wage by 12 calendar months;
  • Rates for countries where the minimum wage is defined as an hourly rate (Germany, Ireland, and the United Kingdom) were converted to monthly rates by applying the average number of usual weekly hours (Eurostat lfsa_ewhun2);
  • The rate of Malta, where the minimum wage is defined at weekly frequency, was converted to a monthly rate considering 4.33 weeks per calendar month.

Applicability

Figures represent the minimum wage applicable in January of the given reference year, except for Ireland , where the new rate is applicable as of February 2020. In Spain the new rate has been decided on 22 January and will be retroactively in effect as of January 2020. In Luxembourg the new rate has been announced by the government on 10 January with effect as of January 2020. In Belgium, a new rate is still being negotiated and not yet in effect. In the United Kingdom, a rate increase from £8.21 to £8.72 per hour will take place in April 2020. The new mechanism in Greece foresees a decision on the new rate for 2020 to be made in June.

In light of the UK’s withdrawal from the European Union on 31 January 2020, it should be noted that much data published on the Eurofound website continues to include the 28 EU Member States, as the UK was included in earlier research. This will be progressively amended to reflect the current composition of the 27 EU Member States.