Announce new minimum wage
Negotiations for a further increase in the minimum wage have been completed and the new minimum wage has been announced.
The Minimum Wage Determination Commission, which held its first meeting on June 13, met today at 11:00 a.m. at the Ministry of Labor and Social Security.
Vedat Işıkhan, Minister of Labor and Social Security, met with Özgür Burak Akkol, President of the Turkish Confederation of Employers’ Unions (TİSK) and Ergün Atalay, President of TÜRK-İŞ.
INCREASE OF 34 PERCENT
After the meeting, the Minister of Labor and Social Security, Vedat Işıkhan, announced the increase in the minimum wage. Consequently, the minimum wage was TL 11,000,402. There was a 34 percent increase in the minimum wage.
Işıkhan announced the new minimum wage with the following words:
“The gross minimum wage, which will take effect in the second half of 2023, has been determined at 13,214 liras, and the net minimum wage at 11,402 liras. With this increase, we have made an interim increase at a rate of 34 percent, which includes social participation, well above the rate of inflation. Compared to the second half of last year, we have increased the minimum wage by 107 percent. I would also like to explain that we will continue to apply the minimum wage support, which we have applied from 400 lira in the last 6 months, to 500 lira in the next 6 months.”
‘MARKET PRICES MUST BE UNDER CONTROL’
Türk İş President Ergün Atalay said about the new minimum wage that will be implemented in the second half of 2023: “I hope that this inflation will be controlled and there will be no increases. It doesn’t matter if the minimum wage is raised and inflation doesn’t reach a certain point. “The prices in the market must be controlled as soon as possible,” he said.
TİSK President Özgür Burak Akkol said: “We are working towards a balanced figure. I am pleased to say yes to this figure, who takes care of employment by pushing all our means to the maximum”.
HOW MUCH DOES IT COST THE EMPLOYER?
The total cost of the new minimum wage for the employer increased from 15,762 lira to 63 cents.
As of January 1, 2023, the minimum wage was set at 10,008 lira gross and 8,506 lira net 80 cents. The total cost of the minimum wage for the employer was 11 thousand 759 liras and 40 cents.
The net minimum wage, which was $455 at the beginning of the year, has become $482 at today’s exchange rates.
ERDOĞAN’S EXPLANATION
Following the announcement of the new minimum wage, President Tayyip Erdogan said on social media:
“The minimum wage will be applied as 11 thousand 402 TL net from July. Good luck to our nation.
On behalf of my nation, I want to thank all the actors who contributed to the determination of the minimum wage within the culture of reconciliation, especially the workers and employers”.
FORMER MINISTER SAID 500 DOLLARS
Vedat Bilgin, who was Minister of Labor and Social Security before the new cabinet, said in a television program in which he participated: “We will regulate the minimum wage in July in a way that protects real purchasing power. In January we made a deal that took it to the highest level of more than $455 in dollars in the history of the Republic. We will do the same in July. It will be a fee of approximately 500 dollars. Our work is done, ”he said.
HUNGER LIMIT INCREASED TO 10 thousand 362 TL
On the other hand, according to the latest data published by Türk-İş, the hunger limit for a family of four had increased to TL 10,362.01 and the poverty line to TL 33,752.49 in May.
The ‘cost of living’ for a single employee had risen to TL 13,439.41 per month.
The United Metal-İş Class Studies Center (BISAM) announced the daily spending requirement at 335 lira, the hunger limit at 10,075 lira, and the poverty line at 34,838 lira for the month of May.