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Czech Government To Raise Minimum Wage By 11%


Czech Government To Raise Minimum Wage By 11%
Image by Aljona83

Reflecting solid growth in the Czech economy, Prime Minister told lawmakers that the minimum wage will be increased by 11% next year. A wondrous example of change from a former Soviet satellite to a capitalistic economy, the Czech Republic now has the lowest unemployment rate of any country in the European Union.

The pre-tax minimum monthly wage will be increased to 12,200 crowns ($509.48) from January 2018, compared with 11,000 crowns now, government spokesman Martin Ayrer said on his Twitter account, reported Reuters.

The government of Bohuslav Sobotka is a leftist, socialist entity and the increase will be the 6th in 6 years. About 100,000 receive minimum wage, or about 3% of the workforce.

The gross domestic product of Czechia is about 2.9% with 4.4% unemployment.

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