 COMMENTS ON THE RECENT EVOLUTIONS OF THE MINIMUM WAGES AND OF THE INFLATIONARY PHENOMENON IN THE EUROPEAN UNIONOdette Andreea Marinache Euroinfo, 2023, vol. 7, issue 4, 57-67 Abstract: The purpose of this article is to present a comparative analysis of the gross minimum wage at national level expressed in euros and in standard purchasing power, in the Member States of the European Union (EU) where it is established by law. The difference between countries in terms of the level of minimum wages was considerably smaller once the prices applied in the respective Member States were taken into account. However, the incomes of the households whose members are minimum wage beneficiaries, have been strongly eroded as a result of the inflationary shock caused by the multiple crises of the last two years, leading to a dramatic drop in the standard of living for these households. Thus, almost a quarter of the EU population was at risk of poverty or social exclusion in 2022. Despite an unemployment rate at a two-decade low, and a significant labor shortage, generally the minimum wages are not motivating, and vacancies in many important sectors of activity remain unfilled. Keywords: minimum wage; purchasing power parity; inflation; unemployment; risk of poverty or social exclusion; decent work; European Union (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:iem:eurinf:v:7:y:2023:i:4:p:57-67 Access Statistics for this article Euroinfo is currently edited by Simona Moagar Poladian, PhD More articles in Euroinfo from Institute for World Economy, Romanian Academy Contact information at EDIRC. |
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