On december 20th, 2010 a law proposal to update the minimum wage law was put in motion in the knesset. The proposed law ammendment would put the minimum wage at 53% of the Average Salary in the Economy (ASE).
As of January 2011 the ASE is 8,307 shekels.
If approved, the amendment would update the minimum wage from the current 3,850 shekels to 4,402 shekels.
Obviously, the hourly minimum wage would be updated accordingly, as well.
Due to the continued errosion of salary because of price increases, this is a blessed proposal which has the backing of the Histadrut and many Mk’s. Let’s hope they will pass this bill in due time with no further delays.
stay tuned !
Moshe Egel-Tal, CSPP
Founder and CEO, Israpay "making payroll simple"
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