Nicosia, Cyprus. Cyprus’ national minimum wage has reached €1,088 per month, placing the country among mid-range earners in the European Union, according to Eurostat.
EU minimum wage coverage
Eurostat figures showed that 22 out of 27 EU countries had a national minimum wage, with Denmark, Italy, Austria, Finland and Sweden remaining outside the system.
Cyprus in the €1,000 to €1,500 group
Cyprus was grouped with seven other countries where minimum wages ranged from €1,000 to €1,500 per month, alongside Greece at €1,027, Croatia at €1,050, Portugal at €1,073, Poland at €1,139, Lithuania at €1,153, Slovenia at €1,278 and Spain at €1,381.
Countries below €1,000
At the lower end of the scale, eight EU countries recorded minimum wages below €1,000 per month, including Bulgaria at €620, Latvia at €780, Romania at €795, Hungary at €838, Estonia at €886, Slovakia at €915, the Czech Republic at €924 and Malta at €994.
Countries above €1,500
At the top of the range, six EU countries reported minimum wages above €1,500 per month, led by France at €1,823, Belgium at €2,112, the Netherlands at €2,295, Germany at €2,343, Ireland at €2,391 and Luxembourg at €2,704.
Nominal gaps and purchasing power adjustments
Eurostat data showed that the highest minimum wage in the EU was 4.4 times higher than the lowest when measured in nominal terms.
However, the data also showed that wage disparities narrow significantly once price level differences are taken into account.
When expressed in purchasing power standard, minimum wages in EU countries with lower price levels appeared higher relative to those with higher price levels.
After adjusting for price differences, minimum wages ranged from PPS 886 per month in Estonia to PPS 2,157 in Germany, meaning the highest minimum wage was 2.4 times the lowest.
In purchasing power standard terms, Cyprus was classified in the middle group, with minimum wages ranging between PPS 1,000 and PPS 1,500 per month.
How do you think purchasing power adjustments change how you compare minimum wages across EU countries?