A total of 20 of the 27 European Union member countries (all except Denmark,
Germany, Italy, Cyprus, Austria, Finland and Sweden) and two candidate countries
(Croatia and Turkey) have national legislation setting a minimum wage by statute
or by national inter-sectoral agreement.
Ireland had the the second highest rate at €1,462 monthly but from Feb 01, 2011, the rate has been cut by 12% and the current monthly rate €1,293, puts us ahead of the UK but behind Luxembourg, the Netherlands, Belgium and France.
Fine Gael, the expected main governing party from March 9th, has promised to reverse the one euro cut in the Irish minimum wage, which is currently at €7.65.
Central Statistics Office data show that about 47,000 workers, or 3.1% of the employed labour force, were paid at or below the previous adult experienced worker rate of €8.65 per hour.
Adjusting for differences in price levels reduces the variation between countries; the minimum wage in purchasing power parity (PPS) ranged from €233 to €1,452 (a factor of about 1:6).
In 2009 the minimum wage level was
between 30% and 50% of average gross monthly earnings in industry, construction
and services (except activities of households as employers and extra-territorial
organisations and bodies)
In comparison with Ireland's 3%+ ratio of the workforce on the minimum wage, in 2005 it was 2% or less in Spain (0.8%), Malta (1.5%), Slovakia (1.7%), the United Kingdom (1.8%) and the Czech Republic (2.0%) and more than 10% in France (16.8%), Bulgaria (16.0%), Latvia (12.0%), Luxembourg (11.0%) and Lithuania (10.3%).
© Copyright 2011 by Finfacts.com