Speaking to workers at a factory in Tver, northwest of Moscow, Putin said the long-expected hike of the minimum wage to the so-called subsistence level, or poverty line, will happen in May, quicker than previously planned. A person needs to earn at least the subsistence level “to have a chance to live on this wage, and if that’s not the case it is not normal,” said Putin, who is widely expected to win in the election on Mar 18. He said he proposed increasing the minimum wage on May 1 of this year. Currently the minimum wage in Russia is 9,489 roubles a month (US$166), while the poverty line is at 11,163 roubles a month (US$196). The change would affect “about four million people,” Putin said. In a highly choreographed visit, Putin also said he would look into expediting building a bridge in the city across the Volga River and acted surprised when one worker offered to help in his presidential campaign. “I didn’t expect that. Thank you very much,” Putin told the worker. Factory workers are traditionally portrayed as the core of Putin’s support base, and it was at another factory, the GAZ automaker, where he announced last month that he would seek reelection. The Russian economy has been hit hard in recent years by falling oil prices and sanctions imposed against Moscow by the West. While the economy has come out of recession, it has not led to an increase in quality of life. Real incomes decreased last… [Read full story]
The forthcoming spikes in the region-based minimum wages are expected to improve workers' incomes but production costs in labor-intensive industries will certainly pick up. The Ministry of Labor, Invalids and Social Affairs, which is drafting a decree on the region-based minimum wages, proposes a wage increase of 6.5%, or VND180,000-230,000 a month, which would go into force early next year. This is also what the National Wage Council, and representatives of employers and employees have agreed upon after three rounds of negotiations. The current inflation rate of 4-4.5% is taken into account to guarantee a real wage rise for workers…... [read more]
An increase in regional minimum wage for 2018 has yet to be finalised due to disagreements over the margin of increase.At the second debate on regional minimum wage for next year, held by the National Salary Council in Ha Noi yesterday, the Viet Nam General Confederation of Labour (VGCL), which represented employees, and the Viet Nam Chamber of Commerce and Industry (VCCI), which represented employers, failed to reach an agreement.The VGCL called for an 8 per cent increase from the current minimum wage while the VCCI proposed 5 per cent.Regional minimum wage rates are the base rates used for any…... [read more]
The government of Vietnam said recently that it will raise the minimum wage at state-owned companies by 12.3% to VND800,000 (US$44.63) a month starting next May. The same wage increase will be also applied at local private firms. Pensions and special allowances to people who have contributed to war efforts will be increased, too, Deputy Prime Minister Nguyen Sinh Hung said recently. Deputy PM Hung has asked the Ministry of Labor, Invalids and Social Affairs to propose plans to increase the minimum wage at foreign-invested businesses beginning next year. Currently, the monthly minimum wage in Vietnam is VND600,000. Vietnam has around 45 million people of…... [read more]
In a move that apparently bows to growing pressure from the corporate sector, Vietnam is looking to raise its minimum monthly salary by 7.3 percent next year, the lowest level since 2007, when the decree on minimum wage increases took effect. The upcoming raise would also be way below what the only recognized trade union for Vietnamese workers has asked for. At a policy dialogue earlier this month, the Vietnam General Confederation of Labor proposed an increase of 10-11 percent to raise minimum wages by VND250,000 - VND400,000 (US$11-$18) per month. Currently, minimum wages range between VND2.4-VND3.5 million ($108-$157) a month,…... [read more]
A factory of the Republic of Korea-invested Hanmi Flexible Vina Co. Ltd in Trang Due Industrial Park, Hai Phong city (Photo: VNA)Hanoi (VNA) - The Vietnam General Confederation of Labour (VGCL) has asked the National Salary Council to increase regional minimum wages in 2017 by 10-11 percent from the current rates.Le Dinh Quang, Deputy Head of the Labour Friendship Department under VGCL, said the proposal was carefully made with a view to harmonise businesses’ economic situation with workers’ daily needs.Surveys conducted by VGCL showed that only eight percent of workers had income that could help them meet their demands and also…... [read more]
