Minimum wage rose to 12 euros per hour in October, and the next increase, still to be defined by a commission, will take effect on January 1, 2024.
The German Government declared today that in January there will be a “considerable” increase in the interprofessional minimum wage, currently at 12 euros per hour, due to inflation and increases negotiated in collective agreements.
“Not only will we continue to have a high level of inflation, but also the expected increases in collective agreements will be reflected in the minimum wage,” Labor Minister Hubertus Heil told Bild today.
The consumer price index (CPI) reached its peak last October, with 10.4% in the same period, and after having stabilized in recent months, it stood at 7.4% in March.
The main economic institutes in the country estimate that year-on-year inflation will fall to 6%, which is, in any case, a high level.
The interprofessional minimum wage was introduced in Germany in 2015, promoted by the Social Democratic Party (SPD), then a government partner in the grand coalition led by conservative Chancellor Angela Merkel (CDU).
It was set at 8.5 euros per hour, which was considered a milestone in a country where this regulation did not exist until then.
The consumer price index (CPI) reached its peak last October, with 10.4% in the same period, and after having stabilized in recent months, it stood at 7.4% in March.
The main economic institutes in the country estimate that year-on-year inflation will fall to 6%, which is, in any case, a high level.
The interprofessional minimum wage was introduced in Germany in 2015, promoted by the Social Democratic Party (SPD), then a government partner in the grand coalition led by conservative Chancellor Angela Merkel (CDU).
It was set at 8.5 euros per hour, which was considered a milestone in a country where this regulation did not exist until then.
