The minimum monthly wage in Latvia increases from EUR 620 to EUR 700 as of the 1st of January, according to amendments to Cabinet regulations that came into force on Monday.
According to the Central Statistical Bureau (CSB), in 2018-2021, the share of employees earning the minimum wage or less ranged from 18.1 percent to 20.6 percent, or around one fifth of all employees. In 2022, the share of minimum wage earners dropped to the lowest point in five years, to 16 percent.
According to CSB data on the number of employees earning the minimum wage or less in 2022, minimum wages were paid to 17.7 percent of employees in the private sector and 11.4 percent employees in the public sector.
In the second quarter of 2023, 887,600 people, or 64.4 percent of Latvia’s population aged 15-74, were employed.
Source: BNS
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