As of 01 January 2023, eighteen out of the twenty-two EU Member States with a statutory minimum wage have implemented an increase in their basic salary level. The aim is to protect low-wage earners in the face of record inflation. However, even though some of these increases exceed 20%, they are struggling to compensate for the erosion occurring in employees’ purchasing power.
With record inflation sweeping through the European Union (11% in November 2022), almost all of the 22 countries with a statutory minimum wage announced a further increase, effective 01 January 2023. Only Germany and Belgium did not implement increases. Just like France, both of these countries operate an automatic review mechanism. In 2022 Germany raised its minimum wage in July and October from €9.82 to €12 per hour (+33%) year and is not planning further increases until 01 January 2024....
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Article authors
Nathalie Tran
Editor-in-Chief Mind HR