The Knesset Labor Committee on Tuesday 4 Cheshvan gave its approval for increasing the nation’s minimum wage to 5,300 shekels monthly.
Finance Minister Moshe Kahlon explained this was another measure towards narrowing the gaps as well as giving a boost to workers and minimum wage earners.
Interestingly, as many hail the move as a success, experts have warned the result of approving an increased minimum wage will be increased unemployment and the move will impact the young job-seekers, primarily teenagers.
(YWN – Israel Desk, Jerusalem)
Join the official YWN WhatsApp status
One Response
Israel’s economy is very, very top heavy. That is a result of excessive profits. Because of this there is more than enough to up the wages of the workers and not have any serious impact on employment or profits.