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Talks on minimum wage hike in Türkiye to commence on Dec. 10

by Daily Sabah with Agencies

ISTANBUL Dec 01, 2024 - 1:16 pm GMT+3
People walk close to Taksim Square on a rainy day in Istanbul, Türkiye, Nov. 21, 2024. (IHA Photo)
People walk close to Taksim Square on a rainy day in Istanbul, Türkiye, Nov. 21, 2024. (IHA Photo)
by Daily Sabah with Agencies Dec 01, 2024 1:16 pm

The first meeting of the commission determining the minimum wage for 2025 in Türkiye is set to take place on Dec. 10, hosted by the Ministry of Labor and Social Security, media reports said on Friday.

The announcement of the first meeting is significant as it directly impacts about 7 million workers and indirectly impacts many in the labor force across the country.

The question of the minimum wage is a hot topic in the country as it will determine the legal amount of the minimum wage workers would be entitled to starting next year.

The Minimum Wage Determination Commission is expected to have several meetings throughout the month, and the details about the new wage need to be shared with the public by Dec. 31.

The meeting, organized by the ministry, will feature the participation of the Turkish Confederation of Employer Associations (TISK) representing employers, while the largest trade union confederation, TÜRK-IŞ, will represent workers, in addition to government officials.

The commission comprises 15 members in total.

The minimum wage for a worker is currently set at around TL 20,000 (around $577), gross per month, and TL 17,002 net after deductions.

Turkish authorities hiked the minimum wage by 49% this year but have skipped the midyear increase, unlike a year ago, while tackling inflation.

With upticks in inflation in recent years, the hikes in minimum wages were substantial. However, inflation began to drop starting in May this year, dipping to 48.58% in October 2024, according to official data.

The expectations over potential increase are divided, however some analysts and experts have suggested the need to avoid bumper hikes to avoid raising new pressure on inflation in the period when the disinflation process continues to gain traction.

The consumer price index (CPI) for November is set to be published on Dec. 3 by the Turkish Statistical Institute (TurkStat).

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  • Last Update: Dec 01, 2024 5:03 pm
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