NewsLocalNew National Minimum Wage does not satisfy sides

New National Minimum Wage does not satisfy sides

As of 1 January 2023, Cyprus will become the 22nd EU member-state with an institutionalized national minimum wage, following yesterday’s decision by the government, which, however, did not satisfy any side, as was expected.

Trade unions consider the National Minimum Wage (NMW) very low, while the employment organizations believe it is high. Based on what was decided yesterday, the NMW was set to 885 euros upon hiring and to 940 euros after working for six months continuously under the same employer.

The difference between the NMW and the current one is just 15 euros. The current one is 870 euros upon hiring and 924 after six months and has been the same since 2012.

Despite the sides’ displeasure, the Labor Minister appeared satisfied with what has been decided, speaking about a historic day for labor affairs.

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