What is the expected increase in regional minimum wage in 2024?

As usual, in the first session, the parties will propose the increase and the basis for the increase. So what is the expected increase in the regional minimum wage in 2024?

Before the meeting, Ms. Pham Thi Thu Lan, Deputy Director of the Institute of Workers and Trade Unions (Vietnam General Confederation of Labor) said that the unit had conducted a survey on minimum living standards.

According to the survey, the cost of food has increased, so if the salary does not increase, the life of workers will be difficult. Currently, many workers do not have enough income to cover their minimum expenses. Therefore, many people want to work overtime. In addition, they also want to find a job outside to increase their income.

The Vietnam General Confederation of Labor is discussing a plan to adjust the minimum wage to both improve workers' lives and share with businesses, helping to stabilize the economy.

"Through the survey, workers want the minimum wage to increase by at least 6-8%," Ms. Lan informed.

Meanwhile, Mr. Le Dinh Quang, Deputy Head of the Legal Policy Department (Vietnam General Confederation of Labor), member of the National Wage Council, said that by the end of August 8, the Vietnam General Confederation of Labor had not signed a document to send a proposal for a specific increase to the National Wage Council as in previous years.

The workers' representatives have prepared all the data, including the announcement of a survey on the living conditions, employment, and wages of workers in 2023; and solicited opinions from experts, union officials, etc.

According to Mr. Le Dinh Quang, currently, the lives of workers are still difficult, however, businesses also face many difficulties. One of the factors in negotiating wages is the ability of the business to pay.

Therefore, it is necessary to consider adjusting the regional minimum wage in a harmonious way, both to motivate workers, increase productivity and efficiency, and to be suitable to the payment capacity of enterprises. Regarding the opinion of many enterprises proposing to postpone the time of wage increase, Mr. Quang said that this is also the content that the parties need to pay attention to during the negotiation process.

The regional minimum wage currently applied is implemented according to Decree 38, with a 6% increase compared to before, applied from July 1, 2022.

According to VTC