Minimum Wage: How Much Did It Increase in Europe (2024-2025)?

Gross national minimum wages in the European Union (EU) increased in the twelve-month period from July 2024 to July 2025, according to the Economic Developments Bulletin of Alpha Bank. The only exception was Cyprus, where the minimum wage remained unchanged.

Significant nominal increases were recorded in most Central European countries, ranging from 10.2% to 15.5%. In Greece, the corresponding increase was 6.1%.

The Kaitz index, which measures the ratio of minimum wages to average and median wages, increased in most member states in 2023. However, only in a few countries has it reached the levels mentioned in European Union Directive 2022/2041, i.e., 60% of the median wage or 50% of the average wage.

According to an analysis by Eurofound, housing costs account for a larger share of the available income for EU workers earning the minimum wage (34.8% on average), compared to workers with higher incomes (26.2%).

Ensuring adequate minimum wages is essential to ensure satisfactory working and living conditions, contributing to improved productivity and the promotion of social and economic well-being.