Financial Services, Latvia, Legislation, Wages

From now on, the minimum hourly wage will be LVL 1.083. The minimum hourly wage rate for adolescents and people working in hazardous jobs will be set at LVL 1.239, writes LETA.

Previously, the minimum monthly salary in Latvia was LVL 160, the minimum hourly wage rate was set at LVL 0.962.

The government believes that the increase of salaries will improve the living standard for people on low income, as well as will eliminate the so called "envelope salaries" and legalize residents' income.

Thus, the net minimum salary for a full-time job of 40 hours per week would be LVL 180, or LVL 142.85 after tax.

The minimum salary rate would remain unchanged also in the short months of the year, like February.

According to statistics, in 2007 there were 73,300 people in Latvia working for the minimum salary or less, of which 64,700 were employed in the private sector and 8,600 – in the public sector.