Economy
23:20 9 February 2021
Post by: WBJ

Minimum wage in Poland has exceeded €1,000

Minimum wage in Poland has exceeded €1,000
Source: Photo by Echo Grid on Unsplash

The minimum wage in Poland – measured in purchasing power parity (PPP) – is currently €1,084 – or 57 percent of median earnings, according to Eurostat. After exceeding the threshold of €1,000, Poland found itself (so far at the very end of it) among the countries with the highest minimum wage level, taking into account the purchasing power parity.

Only the richest EU countries – Luxembourg, Germany, the Netherlands, Belgium, France, Ireland, Spain – and the only country ahead of us that joined the EU in the 21st century – Slovenia are classified ahead of us.

Italy, Sweden, Finland, Denmark, Austria, and Cyprus are among the EU countries where no minimum wage is set. Polish €1,084 of the minimum wage is, in turn, 22 percent more than in Portugal, just over 23 percent more than in Greece, 37.5 percent more than in the Czech Republic, and as much as 50 percent more than in Slovakia.

Poland obtains such a high position against the rest of the continent not in nominal terms, but precisely after calculating the minimum wage taking into account the purchasing power parity – that is, after converting the amount for which a given basket of goods can be purchased in euro in individual countries.

Taking into account the differences in prices between different countries, it comes to the conclusion that even for a larger nominal amount in euro, e.g. in Luxembourg, you can buy fewer goods and services than for a slightly smaller amount, e.g. in Bulgaria.

(300gospodarka


poland
eurostat
europe
minimum wage

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