Cabinet approves NIS 5,300 minimum salary by 2017

salary slip

The minimum monthly salary in Israel will rise to NIS 4,825 in July 2016, NIS 5,000 in January 2017, and NIS 5,300 in December 2017.

The Israeli cabinet this morning approved another amendment to the Minimum Salary Law, which came into effect earlier this year. Under the amendment, the minimum monthly salary will rise by NIS 300 in December 2017 to NIS 5,300.

The Minimum Salary Law came into effect in April when the minimum monthly salary in Israel rose to NIS 4,650. It is scheduled to rise to NIS 4,825 in July 2016, and NIS 5,000 in January 2017. Following the latest amendment it will rise to NIS 5,300 in December 2017.

Minister of Economy Aryeh Deri said, "A situation in which people work and remain poor in a developed society cannot continue. I believe in helping the disadvantaged and the law we have passed today in the cabinet will help raise the salary for employees that earn the minimum. The amendment to the law will provide workers and employers with certainty and I believe that the salaries of employees will continue to rise. I welcome the fact that it was the Histadrut (union movement) and employers that promoted this agreement."

Published by Globes [online], Israel business news - www.globes-online.com - on November 1, 2015

© Copyright of Globes Publisher Itonut (1983) Ltd. 2015

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