The starting figure for minimum wage negotiations has been determined!

The Minimum Wage Determination Commission will begin its meetings in December. The meeting calendar will be finalized at the beginning of the month. As in every year, the commission is expected to determine the new minimum wage by holding 4 meetings, consisting of 3 consultations and 1 decision-making session. Decisions in the 15-member delegation are taken by majority vote. The 5-member government side acts as an arbitrator here.

Following the consultation meetings, Minister Vedat Bilgin will hold a meeting with Minister Mehmet Şimşek. With the coordinated work of the 2 ministers, the impact of the new figure on inflation and the question of 'How much will the state support be' will be put on the table. The new wage will be finalized before January 2024 begins.

The first regulation before the January raise for retirees and civil servants will be the minimum wage raise. For the January 2024 minimum wage raise, 6-month inflation data will be on the table as an important indicator. Another piece of data here will be the civil servant raise. Inflation figures will come to the table as an important criterion while determining the minimum wage, alongside the retiree and civil servant raises. In addition to inflation figures, the Ministry of Labor and Social Security is conducting the necessary survey studies regarding labor unions and employers. These two pieces of data will be on the negotiation table when the minimum wage is determined.

With the announcement of the October inflation figures, the 4-month inflation rate, representing the second half of 2023, was calculated as 29.41 percent. After the November figures are announced at the beginning of December, the 6-month inflation rate will be largely determined.

This expected 6-month inflation rate will be on the table as an important criterion for determining the new minimum wage raise. According to the Central Bank's forecast, the 6-month inflation rate is expected to be 37.76 percent.

In other words, 4 headings will serve as a reference when determining the minimum wage:

• 6-month inflation forecast
• Survey studies to be conducted by the Ministry of Labor and Social Security among workers, employers, and society
• Civil servant raise rate
• Data belonging to TÜRK-İŞ

AT WHAT FIGURE WILL THE RAISE NEGOTIATIONS START?

According to the news compiled by the pro-government newspaper Sabah; the first figure to come to the table of the Minimum Wage Determination Commission will be the minimum wage calculated with the 6-month inflation forecast. Negotiations will start at the figure of 15,707.39 TL for the net minimum wage based on the 37.76 percent 6-month inflation forecast.

News Source: 12punto