Great news for all salaried employees who earn minimum wages. After the govt. raised the v.a.t. and the latest price hikes in almost everything we buy, The minister of Industry, Trade and Labor, Shalom Simchon announced today that the minimum wages will be raised from October 1st, 2012. This is the last update according to the last labor agreement signed two years ago between the Histadrut Haklalit and the Israeli Government and the Industry Union. The last update of the minimum wage was in July 2008.
The new hourly rate will be 23.10 sh (prev. 22.04)
The new monthly rate will be 4,300 sh (prev. 4,100) – a 4.9% increase.
This also effects the hourly rate for youth, as follows:
up to age 16 – 3,010 sh
up to age 17 – 3,225 sh
up to age 18 – 3,569 sh
This notification was issued early, prior to the Jewish new year (Rosh Hashana) and according to the Central Bureau of Statistics will effect about 600,000 employees in Israel.
