Turkey Ranks Among the World's Top 20 Economies but Lags Behind in Minimum Wage Rankings
According to International Labour Organization reports, Turkey ranks behind Iraq and Mexico in the minimum wage league despite its large economic size.
According to International Monetary Fund data, Turkey, which ranks among the world's top 20 economies, managed to secure only the 68th position among 131 countries in the International Labour Organization's minimum wage rankings.
The Contradiction Between Economic Size and Purchasing Power
Despite Turkey's major position in the global economy, the purchasing power of employees continues to erode day by day. The minimum wage set as 28,075 liras as of August remained below the starvation line of 37,203 liras.
International Labour Organization Rankings
According to International Labour Organization data, Turkey ranked 68th among 131 countries in the minimum wage rankings, falling behind countries such as Iraq and Mexico. The minimum wage amount in Iraq surpassed the level in Turkey.
Working Hours and Global Comparison
More than 11.2 million workers in Turkey manage to earn the minimum wage by working 3 hours more than the world average. High foreign exchange rate pressure and living costs play a role in this picture.
Highest Wages Worldwide
Among 131 countries, the highest monthly minimum wage is paid in Switzerland at 3,804 dollars, followed by Germany, the UK, and the Netherlands. In the Asian continent, South Korea stands out among the prominent countries.