News - Global Minimum Wage Changes 2023
Global Minimum Wage Changes 2023
As the year 2023 progresses, minimum wage changes are being implemented in various countries across the globe. These changes are significant for both employers and employees, and keeping track of them is essential. Agility EOR, as an employer of record, is dedicated to keeping businesses and individuals up-to-date with the latest information on minimum wage changes. In this article, we will provide a comprehensive overview of the minimum wage changes taking place across the globe in 2023. By staying informed, businesses and individuals can make informed decisions and plan accordingly.
Americas
| Country | Current Minimum Wage | Future Minimum Wage |
| Argentina | AR$80,342/month, AR$401.71/hour (as of 1 April 2023) | AR$87,987/month, AR$439.94/hour (from 1 June 2023) |
| Aruba | AWG1,893/month, AWG441.60/week (2023) | – |
| Belize | BZD$5 (from 1 January 2023) | – |
| Bermuda | – | BMD$16.40/hour (from 1 June 2023) |
| Bolivia | BOB$2,250/month (from 1 Jan 2022) | – |
| Brazil | – | BRL1,320/month (proposed from 1 May 2023) |
| Canada (Federal) | C$16.65/hour (from 1 April 2023) | – |
| Canada (British Columbia) | C$15.65/hour | C$16.75/hour (from 1 June 2023) |
| Canada (Manitoba) | C$14.15/hour (from 1 April 2023) | C$15/hour (by October 2023) |
| Canada (New Brunswick) | C$14.75/hour (from 1 April 2023) | – |
| Canada (Newfoundland and Labrador) | C$14.50/hour (from 1 April 2023) | C$15.00/hour (from 1 October 2023) |
| Canada (Nova Scotia) | C$14.50/hour (from 1 April 2023) | C$15/hour (from 1 October 2023) |
| Canada (Ontario) | C$15.50/hour | C$16.55/hour (from 1 October 2023) |
| Canada (Prince Edward Island) | C$14.50/hour (from 1 January 2023) | C$15/hour (from 1 October 2023) |
| Canada (Quebec) | C$14.25/hour | C$15.25/hour (from 1 May 2023) |
| Canada (Saskatchewan) | CAD$13/hour (from 1 October 2022) | CAD$14/hour (from 1 October 2023) |
| Canada (Yukon) | C$16.77/hour (from 1 April 2023) | – |
| Chile | CLP400,000/month (18 to 65 years old, from 1 August 2022) | – |
| Colombia | COP$1,160,000/month (from 1 January 2023) | – |
| Costa Rica | Increased by 6.62% (from 1 January 2023) | – |
| Dominican Republic | Varies by sector and job role | – |
| Ecuador | US$450/month (from 1 January 2023) | – |
| Guatemala | Varies by sector and job type | – |
| Guyana | GY$60,147/month (from 1 July 2022) | – |
| Honduras | Varies by workforce size and sector | – |
| Jamaica | JM$9,000/week | JM$13,000/week (from 1 June 2023) |
| Mexico | MXN$207.44/day | |
| Nicaragua | Increased by 10% (from 1 March 2023) | – |
| Peru | PEN1,025 (from 1 May 2022) | – |
| United States (Federal) | Varies by state and municipality | – |
| United States (Puerto Rico) | $8.50/hour (from 1 January 2022) | $9.50/hour (from 1 July 2023), $10.50 (from 1 July 2024) |
| Uruguay | UYU21,106/month (from 1 January 2023) | – |
Asia
| Country | Current Minimum Wage | Future Minimum Wage |
| Australia | AU$21.38 per hour, AU$812.60 per week (from 1 July 2022) | – |
| China | Varies by region, highest in Beijing at CNY25.3 per hour (from 2 January 2023) | – |
| Fiji | FJ$3.67/hour (from 1 October 2022) | – |
| Hong Kong | HK$37.50/hour | HK$40/hour (from 1 May 2023) |
| Japan | Varies by prefecture, ranging from JPY853 to JPY1072/hour (from October 2022 to September 2023) | – |
| Malaysia | RM1,500 per month (from 1 May 2022) | Implementation delayed for smaller employers until 1 July 2023 |
| New Zealand | NZ$22.70 per hour (from 1 April 2023) | – |
| Philippines | Varies by region, for example in the National Capital region PHP 570/day for nonagricultural workers (from 4 June 2022) | – |
| South Korea | KRW9,620/hour, KRW2,010,580/month (from 2023) | – |
| Taiwan | NT$176/hour, NT$26,400/month (from 1 January 2023) | – |
| Thailand | Varies by city and province, ranging from THB328 to THB354/day (from 1 October 2022) | New rates for professional branches will apply 90 days after January 2023 |
| Vietnam | Varies by region, for example in Region I VND22,500/hour (from 1 July 2022) | – |
Europe, Middle East and Africa
| Country | Current Minimum Wage | Future Minimum Wage |
| Albania | ALL34,000/month | – |
| Angola | Various rates based on industry | – |
| Belgium | €1,806.16/month | – |
| Bosnia-Herzegovina | BAM650/month | – |
| Bulgaria | BGN780/month | – |
| Croatia | €700/month | – |
| Cyprus | €940/month | – |
| Czech Republic | CZK17,300/month | – |
| Egypt | EGP2,700/month | – |
| France | €1,709.28/month | – |
| Germany | €12/hour | – |
| Gibraltar | GI£8.10/hour | – |
| Greece | €780/month | – |
| Hungary | HUF232,000/month (for unskilled workers), HUF296,400/month (for skilled workers) | – |
| Ireland | €11.30/hour (for individuals aged 20 and older) | – |
| Isle of Man | £10.75/hour (18 years and over), £8.05/hour (younger than 18 years) | – |
| Jersey, Channel Islands | £10.50/hour | – |
| Kazakhstan | KZT70,000/month | – |
| Kenya | Varies by job type and region, increased by 12% in May 2022 | – |
| Latvia | €620/month | €700/month (in 2024) |
| Luxembourg | €2,447.07/month (for employees aged 18 and older) | – |
| Mauritius | MUR12,075/month (nonexport enterprises), MUR12,075/month (export enterprises) | – |
| Moldova | MDL4,000/month | – |
| Morocco | MAD2,970/month (private sector workers), MAD2,094/month (agricultural workers) | – |
| Netherlands | €1,934.40/month (for employees aged 21 years and older) | – |
| Poland | PLN3,490/month or PLN 22.80/hour | – |
| Portugal | €760/month | – |
| Portugal — Azores | €798/month | – |
| Portugal — Madeira | €785/month | – |
| Qatar | QAR1,000/month, plus QAR300 for food and QAR500 for housing if not provided directly | – |
| Romania | RON3,000/month, RON4,000/month (construction sector) | – |
| Russia | RUB16,242/month | – |
| Serbia | RSD230/hour | – |
| Slovakia | €700/month | – |
| Slovenia | €1074.43/month | – |
| South Africa | R25.42/hour | – |
| Spain | €1,080/month | – |
| Switzerland | – | CHF23.90/hour (Zurich city, pending June 2023 referendum) |
| Turkey | TRY10,008/month (gross), TRY8,506.80/month (net) | – |
| Ukraine | UAH6,700/month | – |
| United Kingdom | £10.42/hour (NLW for individuals aged 23 year or older), various rates for NMW | – |
| Uzbekistan | UZS920,000/month | UZS980,000/month (from May 2023) |
As the cost of living crisis continues, we are witnessing significant changes in minimum wage rates across the world. These changes have important implications for businesses and employees, and keeping up-to-date with them is crucial. As an employer of record, Agility EOR is committed to providing the latest information on minimum wage changes around the world.
I hope that this article has provided a comprehensive overview of the minimum wage changes taking place in 2023, helping businesses and individuals stay informed and make informed decisions. By staying up-to-date, we can all work towards creating fair and equitable workplaces that support both employers and employees alike.
Get in touch to find out how Agility EOR can ensure your employees are compliantly employed and paid in over 150 countries across the globe.
Scott Winter
HR Director