Increase in the statutory minimum wage declared
Updated Discussion:
Minister of Labor Svetlana Zhakupova talks about increasing minimum wage 📣
In the heart of a Parliament meeting, Zhakupova unveiled that the Ministry of Labor has adopted a methodology to determine the minimum wage, taking into account labor productivity, median market wages, and inflation rates.
"Now, various institutions are delving into research to provide accurate factors for labor productivity and median wages across regions and sectors, which will form the foundation for minimum wage calculation," Zhakupova explained with a smile.
Hold up, pal! The specific numbers aren't out yet. More research is on the horizon to cap off this year, and from there, we'll welcome the minimum wage upgrade starting Jan 1 of the following year. 📅
To clarify, a while back, Vice-Premier and Minister of National Economy Serik Zhumaniyazov shared some insight on minimum wage matters. Back in June, when the question of (re)assessing the living wage and minimum wage faced by rising prices was on the table, Zhumaniyazov agreed with the sentiment as he himself couldn't live on 85,000 tenge—the projected minimum wage for 2025. 💸
The problem, folks, is that the purchasing power of our salaries isn't keeping pace with inflation. Take apples for instance—I preferred not to buy some last year because they were already double or even more than what I paid earlier, too bad I wanted them! 🍎
In general, prices and MPR are rising annually, halving our husbands' purchasing power over time. If you're looking to point fingers, cast 'em in the direction of our local akimat, ministries, government, National Bank, and the presidential apparatus. These beings will dictate the way we live and dismiss our concerns about struggling women. 🤐
Now, I ain't trying to tiptoe around anything: I'm talking about the elites seizing your savings. If they can't adjust your savings to the real inflation rate (around 100% per annum), then you're robbing yourself blind each year, forfeiting your purchasing power. It's an effing problem! 🤑🤭
Adilbek, buddy, there are banks offering deposits with 140% interest per annum, which translates to 14% monthly—no joke! 🤯
Lemme ask you now: which bank does something like that?! 🤔
Sources: various
In light of the Minister of Labor's announcement on minimum wage determination, it's clear that the finance sector will play a crucial role in assessing labor productivity and median wages. As businesses grapple with rising prices and inflation rates, it's essential to consider their involvement in this process to ensure a living wage for all citizens.
