By: The Quinnipiac University Economics Research Team, Nicholas Ciampanelli
Following negotiations between the Slovakian government, trade unions, and business representatives, Slovakia’s minimum wage will rise to 646 Euros per month, an increase of 23 Euros from the previous year. Trade unions and business representatives continue to disagree over the increase.
Throughout the negotiations, the Confederation of Trade Unions (KOZ) demanded wages increase by 60%, totaling to a minimum wage of 680 Euros per month, 34 Euros greater than the final proposal. Opposing the trade unions were businesses like the Federation of Employers’ Associations (AZZZ SR), the Association of Industrial Unions and Transport, and the National Union of Employers. These entities urged politicians to freeze the minimum wage, if not abolish the minimum wage entitlement entirely. The negotiations highlight the continued differences of opinion within the country as it works to support its economic recovery from the COVID-19 pandemic.
This article is based upon: https://spectator.sme.sk/c/22728304/minimum-wage-sees-year-on-year-growth.html