The European Parliament and the EU Legislation Council have reached an agreement aimed at ensuring that the minimum wage in the EU countries guarantees a decent standard of living for all workers. This is stated in the EP communique, published on June 7.

“Representatives of parliament and council agreed on EU rules setting an adequate minimum wage in accordance with national legislation and/or collective agreements. The new legislation will apply to all EU workers who have an employment contract or are in an employment relationship..

According to the new agreement, member states will have to assess whether their minimum wage is adequate to ensure a decent standard of living, taking into account the socio-economic conditions, purchasing power, productivity levels and long-term development of a country.

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To assess the adequacy, EU countries can establish a basket of products and services at real prices. In addition, the minimum wage can also be set on the basis of the average level of wages.

The European Parliament expects that with the help of this law it will be possible to reduce wage inequality and increase the wages of the least paid workers in Europe. Now the agreement must be approved by the Committee on Employment and Social Affairs of the EP, and then voted at the plenary session. In addition, the regulation must be approved by the Council of the EU.

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Earlier, the EU announced the restructuring of trade policy as a result of the war in Ukraine. In particular, they noted that they would cooperate more with the United States.