Minister De Weever approves indexation minimum wage

POSTED: 12/3/13 12:08 PM

St. Maarten – The indexation of the minimum wage will go into effect per January 1, the Ministry of Public Health, social development and Labor announced in a press release yesterday afternoon. The parliament meets this afternoon to discuss the minimum wage.

Minister De Weever said in the press statement that he believes that “a balanced approach is needed when dealing with labor market issues..

This will be the second time during his tenure that Minister De Weever has indexed the minimum wage. Per January of this year the wages were indexed by 4.7 percent to 8.33 guilders per hour for workers 21 years and older based on a 40 hour workweek.

Per January 2014, the minimum wage will be indexed by 2.8 percent and go up to 8.56 guilders per hour for workers 21 years and older.

The minister’s decision is based on legislation that calls for an annual indexation of the minimum wage unless special circumstances dictate otherwise.

The new minimum wage is not an increase but an adjustment based on the increase in the consumer price index. Minister De Weever points out that prior to his efforts to help maintain or at least prevent a decrease in purchasing power of minimum wage earners,  no indexation has taken place since 2008.

Minister De Weever consulted with the social partners in the tripartite committee prior to taking this decision.

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