Germany's Minimum Wage Set for Historic Increase

Germany is gearing up for a significant boost in its minimum wage, set to rise to 14.60 euros per hour by 2027 from the current 12.82 euros. This increment, suggested by a commission comprising employers and trade union representatives, aims to enhance earnings for workers across the nation.

The proposal requires implementation by the labor ministry and projects an initial rise to 13.90 euros by early 2026. As Europe's economic powerhouse, Germany seeks to ensure its labor force earns competitively.

By 2025, Germany is poised to have the second-highest minimum wage in the EU, following Luxembourg, and joining other nations like Belgium, the Netherlands, and Ireland, who offer over 2,000 euros per month.

(With inputs from agencies.)