Employers' and employees' representatives have agreed to set the monthly minimum wage for 2024 at €750. This was announced by Prime Minister Ludovit Odor after a meeting of the Economic and Social Council on Monday. Commenting on the agreement between employers and employees, Labour Minister Sona Gaborcakova pointed out that no party was 100 percent satisfied with the deal. Wage negotiations should be based on data, not emotions. The Association of Employers' Associations (AZZZ) and the Confederation of Trade Unions (KOZ) didn't agree on the minimum wage for 2024 in July. The social partners had until the end of August to negotiate the minimum wage within the tripartite framework. If the tripartite negotiations do not produce a decision in favour of one of the parties, the minimum wage is set automatically. An automatic mechanism sets the minimum wage at 57 per cent of the average wage two years ago. The current agreement goes beyond what is required by law, as the amount of €750 is €6 more than what the automaton would produce.
Source: TASR
