11:03
Reported

News Brief

  9/3/2012, Elul 16, 5772

Minimum Monthly Wage to Rise Almost 5% in October


Industry, Commerce and Employment Minister Shalom Simchon announced, Monday, that the minimum monthly wage for adults will rise in October from the current 4,100 shekels to NIS 4,300, an increase of almost 4.88 percent. The increase is generally calculated on April 1st, based on the rate of 47.5 percent of the average wage in the economy, but the latest hike is the second in a special adjustment; a 250 shekel increase having been implemented in July 2011. The hourly minimum will stand at NIS 23.12.

The monthly minimum for minors until the age of 16 will be 3,010 shekels, 70 percent of the adult minimum, while those between 16 and 17 will earn three quarters of the adult minimum or NIS 3,225, and those between 17 and 18 will earn 3,569 shekels, 83 percent of the adult minimum.