6 June, 2019 seen 47,018Turns out this is already fifth (#5) article about minimum wages in European Union featured on the blog. Traditions must be continued and here comes the latest article with the latest data for 2018 about minimum wages in the European Union. Update: Minimum Wages in European Union 2019 In 2018 there were 22 out of 28 European Union member states with the…
In 2016 there were 22 out of 28 European Union member states with official minimum wage set by the government.
Update: Minimum Wages in European Union 2018
The most are receiving residents of Luxembourg (EUR 1,923.00) while the least in Bulgaria (EUR 215).
By simple calculations, I averaged the average minimum wage in 22 EU member states - EUR 810.82. In most of the member countries there is an increase in minimum wage in 2016, still, there is one country with sharp decrease.
N.B. Countries that don't have a minimum wage set by the government in European Union - Austria, Denmark, Finland, Cyprus, Italy and Sweden (collective bargaining agreements effective, instead of minimum wage)
For this year's minimum wage table I decided to include data for 2014, 2015 and current 2016, added growth over year and growth over two years, to better understand the overall scene. Data used in this table are from Minimum wages on Eurostat, List of sovereign states in Europe by minimum wage and my previous articles: Minimum wage 2015; Minimum wage 2014;
|Rank||Country||2014||2015||2016||Growth one-year||Growth two years||%|
The average minimum wage for 22 EU member states has increased by almost EUR 70 during past two years, from EUR 746 in 2014 to EUR 810.92. Of course, its just an overall indicator and doesn't mean minimum wages in all member states are equal. Not at all.
In 2016, there were seven countries with minimum wage larger than EUR 1,000 - Luxembourg, Ireland, Belgium, Netherlands, Germany, France and United Kingdom. These countries as the richest of EU usually doesn't increase their minimum wages sharply, but in 2016 Ireland and UK stands out, by increased monthly minimum by EUR 82.00 and EUR 172.00 respectively, over the past two years.
Map of minimum wages in EU 2016
Five countries - Slovenia, Spain, Malta, Greece and Portugal averages between EUR 791 and EUR 530, with Portugal showing a sharp decrease (- EUR 59) in minimum.
All the rest countries and they are ten (located in the East) fells bellow EUR 500 monthly mark. It will require years, if not decades, for these countries to catch up with better-developed countries in Western Europe.
Are you living in one of EU member countries and receive minimum wage? - leave your thoughts in the comments section - readers and I would love to hear!