Great Graphic: Minimum Wages in the EU

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 Great Graphic:  Minimum Wages in the EU Reviewed by Marc Chandler on February 26, 2015 Rating: 5
Powered by Blogger.