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Australia 15 cents more minimum wage - 2022 increase to EUR 10.45

19:16  30 june  2020
19:16  30 june  2020 Source:   de.reuters.com

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Berlin (Reuters) - The statutory minimum wage in Germany is to be increased by 15 at the beginning of 2021 Cent rise to 9.50 euros, but in three further steps to reach 10.45 euros by mid-2022.

This was recommended on Tuesday by the minimum wage commission from employers and the unions. This affects around two million employees. With the recommendation for 2021, the Commission is lagging behind the development of wages. According to its own account, it thus takes account of the economic crisis as a result of the virus pandemic. Federal Minister of Labor Hubertus Heil admitted that the adjustment would initially remain "slightly below the tariff index, but then catch up vigorously". The SPD politician advocated a sudden increase to twelve euros per hour in 2023.

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The Commission struggled for hours after a decision was made to refrain from increasing it, in order not to endanger jobs through higher wage costs in the crisis. Nevertheless, after "sometimes controversial discussion", a unanimous decision was reached, as Commission Chairman Jan Zilius said. According to this, the minimum wage increases in four steps on January 1 and July 1, 2021 and 2022 to EUR 9.50, EUR 9.60, EUR 9.82 and EUR 10.45. Heil announced that the federal government would implement this by ordinance.

TARIFINDEX would have increased to EUR 9.82

The Commission should be based on the development of wages, but should also have an eye on securing employment. The relevant tariff index of the statistical office increased by 5.7 percent from June 2018 to June 2020. Accordingly, the minimum wage would have to rise to EUR 9.82 in early 2021.

The managing director of the employers' association, Steffen Kampeter, was satisfied that a smaller increase would create more air especially for small and medium-sized companies, which "were hit particularly hard by the corona crisis and had to fight for their economic existence". Stefan Körzell from the German Trade Union Confederation considered it a success that the minimum wage "in the second year of the increase period will be significantly higher than the tariff index at EUR 10.45". The increases would bring employees about two billion euros more money.

Unemployment to remain high after recovery, report says .
The Australian economy has taken a "sledgehammer" hit from the coronavirus pandemic, and is set to shrink by three per cent this year.Deloitte Access Economics is predicting the economy will shrink by 0.4 per cent through 2020-21 after shrinking by 0.1 per cent in 2019-20. That would be the first period the economy had experienced two years of negative growth since the early 1980s recession.

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