This Great Graphic comes from Eurostat. It shows the minimum wage as of the start of the year for the 28 members of the EU. It ranges from 184 euros a month in Bulgaria to 1923 euros in Luxembourg. This overstate the real gap. When adjusted for purchasing power parity that 10-1 gap is reduced to 4-1 according to Eurostat.
Some countries, including Germany, Ireland, France, Malta and the UK do not have a monthly minimum wage. Eurostat simply converted those minimum wages into a monthly figure by adjusting by the standard number of hours worked per month, which differs country-to-country.
Minimum wages can also be seen in the context of the median gross monthly earnings. Minimum wages appear to range between 40% of the median gross monthly earnings (Czech and Estonia) and 60% (France and Portugal).
Since 2008, the minimum wage (measured in local currency) has risen throughout the EU except Greece, where it has fallen by 14% and Ireland (unchanged). This largest increases took place in Romania (95%) and Bulgaria (64%).
Great Graphic: Minimum Wages in the EU
Reviewed by Marc Chandler
on
February 26, 2015
Rating:
Reviewed by Marc Chandler
on
February 26, 2015
Rating:
