National Minimum Wage in 2024
Posted: Mon Dec 23, 2024 10:26 am
wage?
How much will your take-home pay be?
Contract of mandate and hourly rate
Summary
In 2024, just like this year, the minimum national wage will increase twice — both in January and July. Until now, these amounts were as follows: from January 1, the minimum wage was PLN 3,490 gross, and from July 1, it was PLN 3,600 gross.
The new year will bring with it PLN 4,242 gross minimum wage, and with the arrival of summer it will increase by PLN 58. Do you think this is a significant increase?
As it turns out, this is a record result!
Why is the government raising the minimum wage?
There are many reasons, but the most important factors include:
Poverty Reduction – Raisin phone name list
g the minimum wage is not only about increasing earnings, but also improving the living conditions of those who earn the least. It is a chance to better meet basic needs such as food, housing and health care.
Economic drive - more money in the pockets of employees means demand on the market. When people earn more, they are more willing to spend, which has a positive effect on the recovery of the economy.
Striving for pay equality — increasing the minimum wage translates into proportionally higher incomes for those with lower wages compared to those with higher wages.
Motivation to work - when wages rise, work becomes more attractive. This can be a motivation to take up employment for those who are unemployed or work illegally.
Risks associated with increasing the minimum wage :
Unemployment:
The threat: Businesses, especially small businesses, may be forced to cut jobs to cover higher minimum wage costs.
The result: an increase in the unemployment rate, especially in sectors with low profit margins.
Increased costs for businesses and small businesses:
Threat: Businesses, especially those with limited financial resources, may have difficulty adjusting to minimum wage increases, which could lead to financial hardship.
Consequences: business bankruptcies, reduced competitiveness and job losses.
Inflation:
Threat: Raising the minimum wage could prompt businesses to raise prices for goods and services, which in turn could lead to higher inflation.
The result: a decline in consumer purchasing power and potential hardship for those with lower incomes.
How much will your take-home pay be?
Contract of mandate and hourly rate
Summary
In 2024, just like this year, the minimum national wage will increase twice — both in January and July. Until now, these amounts were as follows: from January 1, the minimum wage was PLN 3,490 gross, and from July 1, it was PLN 3,600 gross.
The new year will bring with it PLN 4,242 gross minimum wage, and with the arrival of summer it will increase by PLN 58. Do you think this is a significant increase?
As it turns out, this is a record result!
Why is the government raising the minimum wage?
There are many reasons, but the most important factors include:
Poverty Reduction – Raisin phone name list
g the minimum wage is not only about increasing earnings, but also improving the living conditions of those who earn the least. It is a chance to better meet basic needs such as food, housing and health care.
Economic drive - more money in the pockets of employees means demand on the market. When people earn more, they are more willing to spend, which has a positive effect on the recovery of the economy.
Striving for pay equality — increasing the minimum wage translates into proportionally higher incomes for those with lower wages compared to those with higher wages.
Motivation to work - when wages rise, work becomes more attractive. This can be a motivation to take up employment for those who are unemployed or work illegally.
Risks associated with increasing the minimum wage :
Unemployment:
The threat: Businesses, especially small businesses, may be forced to cut jobs to cover higher minimum wage costs.
The result: an increase in the unemployment rate, especially in sectors with low profit margins.
Increased costs for businesses and small businesses:
Threat: Businesses, especially those with limited financial resources, may have difficulty adjusting to minimum wage increases, which could lead to financial hardship.
Consequences: business bankruptcies, reduced competitiveness and job losses.
Inflation:
Threat: Raising the minimum wage could prompt businesses to raise prices for goods and services, which in turn could lead to higher inflation.
The result: a decline in consumer purchasing power and potential hardship for those with lower incomes.