Thursday, 29 December 2011

Government to freeze minimum wage, one of the lowest in Europe

'Pay peanuts, get monkeys'
SPAIN (Agencies) The new Government, in the shape of the new Ministry of Employment and Social Security, has informed the unions that it intends to freeze the minimum wage (Salario Mínimo Interprofesional, or SMI) for 2012. It will stay at its present €641,40 per month, or an annual €8,979.60. The minimum wage for domestic employees is to remain at €5.02 per hour worked. The reason: 'the present economic climate', according to union sources. The SMI was raised by 1.3% to its present level in 2011. The measure will affect some 183,000 workers, according to the country's two main unions, UGT and CCOO. In a letter to the new Minister of Employment, Fátima Báñez, the unions say that the present crisis "cannot be used as an excuse to desist in our objective of reaching a SMI of 60% of the median salary." This translates to some €1,026 a month, as is recommended by the European Social Charter signed by Spain. The country's SMI is one of the lowest in the EU-15, and has been losing purchasing power steadily since 2006. Below is a list of minimum wages as per Wikipedia:>>>

Minimum wages by country

CountryMonthly minimum wageMonthly minimum wage (EUR)Hourly rateHourly rate (EUR)
 Albania20,000 lekë149.00104 lekë0.75
 Armenia25,000 dram47.80144 dram0.28
 Azerbaijan60 manat54.730.35 manat0.32
 Belarus400,000 rubles88.572,360 rubles0.52
 Bosnia and Herzegovina320 convertible marka163.611.85 marka0.95
 Bulgaria270 leva138.051.38 leva0.70
 Croatia2,814.00 kuna388.0516.23 kuna2.24
 Czech Republic8,000 koruna314.9146.15 koruna1.82
 Denmark--106.15 kroner[2]14.24
 Georgia115 lari48.980.66 lari0.28
 Germany---[Note 1][4]-
 Hungary73,500 forint277.36424. forint1.60
 Iceland130,000 króna751.59750 króna4.34
 Latvia200 lati[6]281.691.25 lati1.76
 Lithuania800 litai231.704.62 litai1.34
 Republic of Macedonia15,463.38 Denar252.25--
 Moldova766.10 lei46.184.42 lei0.27
 Poland1,386 złotych356.718.00 złotych2.06
 Romania670 lei163.414.18 lei1.02
 Russia4,330 rubles109.2225.00 rubles0.63
 San Marino€1,220.271,220.27€7.047.04
 Serbia17,700 dinars [7] April 2011177.00102 serbian dinars1.00
 Turkey760.50 lira380.255.00 lira2.50
 Ukraine869 hryven'88.565.2 hryven'0.53
 United Kingdom£1,005.331,117.87£5.936.83

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