What will the 2024 minimum wage increase rate be?

The answer to the question of when the 2024 minimum wage increase will be announced is pointed to as December. It is stated that the commission, which includes representatives of the government, workers, and employers, will announce the increase amount that will be valid for the new period at the end of December.

Minister of Labor and Social Security Vedat Işıkhan recently made important statements regarding the minimum wage. Experts state that the inflation data from the last 6 months will be taken into account in determining the minimum wage for the new period.

According to experts, it is highly likely that the minimum wage will exceed 15 thousand TL in the new period. Millions of people already working for the minimum wage are not looking favorably at a salary below 15 thousand TL in the new period. Furthermore, when it comes to expectations regarding the minimum wage, many economists state that 15 thousand TL is seen as a psychological threshold and that this threshold will be exceeded in the new year. Considering the relevant issues, it is stated that negotiations regarding the 2024 increase could start at the 40% level.

INCREASE SCENARIOS

It is said that if the increase rate is determined as 40%, the minimum wage in 2024 will be 15 thousand 962 lira and 80 kuruş. If a 45% increase rate is accepted, it will rise to the level of 16 thousand 532 lira and 90 kuruş. Finally, in the scenario where a 50% increase rate is accepted, the wage, which closely concerns millions of people, will be 17 thousand 103 lira.

News Source: 12punto