Latvia's Minimum Wage to Rise to EUR 700 Next Year
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As of next year, the minimum monthly wage in Latvia will increase to at least EUR 700, according to draft amendments to government regulations submitted by the country's Welfare Ministry.
The current regulation on the minimum monthly wage for a full-time job sets the minimum wage at EUR 620 per month. However, amendments adopted to the Labor Law in 2022 stipulate that the minimum wage has to increase to at least EUR 700 as of January 1, 2024.
According to the Central Statistical Bureau's data, in 2018-2021 the share of employees earning the minimum pay or less was in the range from 18.1% to 20.6%, making around one-fifth of the employed population. In 2022, the share of employees earning the minimum pay dropped to 16%, reported the Baltic Times.
According to figures from the statistics agency, the number of employees earning the minimum wage or less in 2022 show that out of 123,143 employees earning the minimum pay of less, 94,190 people, or 17.7%, worked in the private sector, while 26,0 32 people, or 11.4%, were public sector employees.
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