Minimum wages in 2023_ Annual review

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Minimum wages in 2023_ Annual review

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  • Recent losses in real minimum wages have not eroded long-term gains in purchasing power

    Recent losses in real minimum wages have not eroded long-term gains in purchasing power


    While losses in real minimum wages have occurred in several countries across the European Union, these have not eroded the long-term gains of purchasing power that have occurred across the EU since 2013. In an effort to offset inflation, governments have significantly increased nominal minimum wages across Europe. In 2023, the median nominal increase was almost 11%, compared with just 5% in 2

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