Germany is giving nearly two million workers a 25% pay rise

Authored by edition.cnn.com and submitted by Sweep145

London (CNN Business) Almost 2 million workers in Europe's biggest economy are set for a big pay rise.

following lengthy coalition negotiations. Three German political parties agreed to form a new government on Wednesday, with left-leaning Social Democrat Olaf Scholz set to succeed Angela Merkel as chancellorfollowing lengthy coalition negotiations.

As part of the coalition agreement, the country plans to raise its minimum wage to €12 ($13.46) an hour, from the current rate of €9.60 ($10.77) an hour.

The move could boost the income of nearly 2 million people in Germany who earn minimum wage salaries, or about 5% of workers, according to Carsten Brzeski, an economist at ING. He said the move was "clearly significant."

The minimum wage was already set to rise to €10.45 ($11.72) in July 2022. The text of the coalition deal did not state when the bigger one-off increase will take effect.

Imjustnotfunny on November 25th, 2021 at 16:59 UTC »

And they just signalled their intent to legalise weed in the next 3.5 years

morenewsat11 on November 25th, 2021 at 16:53 UTC »

"As part of the coalition agreement, the country plans to raise its minimum wage to €12 ($13.46) an hour, from the current rate of €9.60 ($10.77) an hour.".

An increase in the minimum wage is always a good place to start. Glad Germany didn't choose the nickle-and-dime approach.

wangan88 on November 25th, 2021 at 15:27 UTC »

France should do that..but instead we got 100€ compensation for rising cost of life yeah....