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How much will the minimum wage increase be? When will the commission convene? (2025 minimum wage increase)

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The increase in the minimum wage is a topic of interest for millions of minimum wage earners. The 2025 minimum wage increase will be determined after three meetings to be held between the government, labor, and employer sectors. Now all eyes are on how much the new minimum wage increase will be and the date of the first meeting. So, how much will the 2025 minimum wage increase be? When will the commission convene?Possibilities of an increase before the 2025 minimum wage increase have started to be researched by millions of working citizens. After last year’s 49.11 percent increase in the minimum wage, people are now curious about the percentage of increase to be applied this year. Minister of Labor and Social Security, Vedat Işıkhan, made statements regarding the 2025 minimum wage increase. So, how much will the 2025 minimum wage increase be? When will the commission convene?The anticipation of how much the minimum wage increase will be is eagerly awaited by millions of workers. In January 2024, the minimum wage increased by 49.11 percent to 17,002 Turkish Lira. Minister Işıkhan shared statements regarding the upcoming new minimum wage increase, emphasizing that a figure will be determined in line with the principle of not crushing people with inflation. Minister of Labor and Social Security, Vedat Işıkhan, made significant statements about the minimum wage.Minister Işıkhan pointed out that the Minimum Wage Determination Commission takes into account several variables such as the current inflation rate, macroeconomic balances, and purchasing power. Expressing the government’s goal of protecting the welfare of citizens by creating lasting prosperity solutions, as frequently emphasized by President Erdoğan, Işıkhan said, “We will proceed this year as we did in December of the last year. I wish for an agreement on a wage level that will not crush people with inflation and preserve their purchasing power.” Minister Işıkhan also highlighted the role of workers and employers as mediators in their demands, stating, “Like last December when Türk-İş brought workers, we would be happy to host workers if a similar development occurs this year. Workers are our important stakeholders.”Minister of Labor and Social Security Vedat Işıkhan responded to questions about the 2025 minimum wage increase. Işıkhan mentioned that they would kick off the wage increase marathon in December and determine the minimum wage valid for 2025. Accordingly, the first meeting regarding the 2025 minimum wage increase will be convened in December. With the January 2024 49.11 percent wage increase, the minimum wage jumped to a net 17,002 Turkish Lira.Economists are currently divided concerning the minimum wage increase. Whether the minimum wage will be determined based on year-end inflation or target inflation has been a subject of debate for some time. Some economists argue that the minimum wage increase could exceed 30 percent, while estimates also suggest that the rate in the private sector will remain around 20 percent. Here are the possibilities:If a wage increase based on the Medium-Term Program (OVP) inflation target of 41.5 percent is implemented, it will exceed 24,000 Turkish Lira.If the OVP 2025 inflation target of 17.5 percent is reflected in the wage increase, it will rise to 19,975 Turkish Lira.If an increase based on the Central Bank’s 38 percent target is made, it will reach 23,460 Turkish Lira.When the Central Bank’s 2025 target of 14 percent is applied, it will rise to 19,380 Turkish Lira.With an increase matching the upper band of 21 percent for 2025, it will become 20,570 Turkish Lira.If there is a 30 percent wage increase, the new minimum wage will reach 22,102 Turkish Lira.If a 40 percent increase is implemented, the new minimum wage will be 23,802 Turkish Lira. If the market expectations of a 45 percent increase are met, it will reach 24,650 Turkish Lira.

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