Millions of people continue to wonder about the lobbying information about the increase in the minimum wage with the approach of December. The fact that the first increase in the minimum wage was 50 percent last year created the same expectation this year. The determination commission, which will sit on the table for the net and gross minimum wage figures, will take into account the inflation figures. The agenda of workers and employers includes the questions of how much the new minimum wage will be, how many TL, and when it will be announced. The new minimum wage will be shared with the public as a result of the meetings to be held under the chairmanship of Vedat Bilgin, Minister of Labor and Social Security.
Minimum Wage Meeting Date Announced!
Meeting dates have been announced for the minimum wage negotiations to be held under the chairmanship of Vedat Bilgin, Minister of Labor and Social Security.
The Minimum Wage Determination Commission, which will convene three times in December, will meet first with the Ministry, then hosted by the representatives of the workers and employers.
Accordingly, the minimum wage determination commission will meet on 7-8-9-December 2022 to determine the wage. The determined minimum wage will be announced by President Recep Tayyip Erdoğan.
What is the 2023 Minimum Wage Expectation?
The countdown has begun for the 2023 minimum wage hike. Inflation rates will determine the minimum wage increase. Within the framework of the statements made by the upper echelons of the government to "protect employees against inflation", the public expects that the minimum wage will increase by at least 50 percent.
The Ministry of Labor and Social Security has also started a research to determine the expectations of workers, employers and the public for the minimum wage that will be valid in 2023. Minimum wage expectations will be determined and evaluated in the research, which will also cover small, medium and large-scale enterprises throughout Turkey. The collected survey results are planned to be shared with the public at the Minimum Wage Determination Commission meeting.
President Erdoğan, Minister of Treasury and Finance Nureddin Nebati and Minister of Labor and Social Security Vedat Bilgin gave messages that the minimum wage would be protected against inflation and that there would be no increase in the minimum wage under inflation.
The minimum wage was 50 thousand 4 liras with a 253 percent increase at the end of last year. Due to the increase in inflation, the minimum wage was increased once again as of July 1, and the net minimum wage amount reached 30 thousand 5 liras with this 500 percent interim increase. Thus, the cumulative increase in the minimum wage last year exceeded 90 percent.
The 50 percent increase in the minimum wage last year, the statements from the state administration and the higher inflation rate this year compared to last year, created an expectation of at least 50 percent increase in the minimum wage this year. If a 50 percent increase is applied to the minimum wage, the wage will be 8 thousand 250 liras for the new year. However, as of January 2023, it is estimated that the minimum wage may exceed this figure. The inflation rate, which will be realized until December when the minimum wage commission will be collected, will also be effective in the increase to be announced.
The minimum wage is critical to public finances, as it is considered the benchmark for calculating many payments. Among the calculations that will be rearranged with the new minimum wage are social security premiums, general health insurance premiums, severance pay, military service and foreign borrowing, unemployment benefits, home care fees, 65-year-old and disability pension.
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