Luxembourg has the highest minimum wage in Europe
Studies of minimum wages show not only the general level of well-being of the population of a country but also the situation of the economy as a whole. The latter can be measured by the growth rate of wages.
The data of the latest study show the expected picture: Luxembourg is still the European leader in terms of the level of the minimum wage. It should be noted that the minimum wage is defined differently in each country. In some countries, such as Italy, Denmark, Finland, Austria and Sweden, it does not exist at all.
The Grand Duchy is in Group 1. This includes countries where the minimum wage is more than 1,500 euros. These are Germany, the Netherlands, Belgium, France and Ireland. But even among these countries, Luxembourg stands out. Another important difference of group 1 is a relatively low growth rate of the minimum wage — only about 2-4% per year.
Group 2 includes countries where the minimum wage is between 1,000 and 1,500 euros. There are two such countries: Spain and Slovenia with 1,260 and 1,200 euro respectively. Growth rates here are moderate — 4-6%.
The 3rd group includes all countries with a minimum wage below 1,000 Euros. They are the majority in the European Union. The lowest rate is in Bulgaria: only about 400 euro per month. However, the same group is characterized by the highest growth rates. On average, they range from 6% to 13%.
