The Ministry of Home Affairs ' policy impact assessment report shows that if adjusted according to the above plan, the monthly minimum wage will be about 0.6% higher than the minimum living standard by the end of 2026, thereby contributing to further improving wages for workers. This plan also takes into account the socio-economic context and the level of impact on production costs of enterprises. Accordingly, the Ministry of Home Affairs forecasts an average increase of about 0.5 - 0.6%, in which the textile and footwear industries - industries that use a lot of labor - will increase by about 1.1 - 1.2%.
According to the Ministry of Home Affairs, this adjustment level shares and harmonizes the interests of workers and businesses. In fact, most businesses are currently paying workers higher than the expected minimum wage, so when implementing the new minimum wage, it will mainly only increase the cost of paying compulsory insurance. For the group of workers currently receiving low wages, it must be readjusted to ensure that it is not lower than the new minimum wage...
The application date of January 1, 2026 is also considered suitable for the growth recovery cycle and creates conditions for businesses to prepare resources. That if not adjusted, workers' lives will be more difficult when the minimum wage does not keep up with essential prices, easily leading to disputes.
Previously, at the second meeting held in early July, members of the National Wage Council voted unanimously to propose a 7.2% increase in the regional minimum wage in 2026, effective from January 1, 2026. According to a Council member, the increase and timing are appropriate for the current period, meeting the wishes of union members and workers nationwide, while demonstrating a spirit of sharing the difficulties of businesses.
Since 2000, the Government has adjusted the minimum wage 20 times, of which 15/18 times were implemented on January 1, except for special crisis periods. Currently, the actual value of the minimum wage stipulated in Decree No. 74/2024/ND-CP has also gradually decreased due to the increase in the consumer price index (CPI). With the CPI expected to increase by 3.7% each year in 2025 and 2026, this minimum wage will no longer ensure the minimum living standard of workers and their families by the end of 2026.
Therefore, increasing the minimum wage not only means increasing income but also is a tool to ensure social security, helping workers have more ability to pay for essential needs in the current context of rising prices. This is an important factor for workers to feel secure in sticking with the business, encouraging full participation in social insurance and health insurance policies.
In addition, increasing the minimum wage also has great social significance in resolving wage conflicts which are the main causes of collective disputes and strikes. It contributes to building harmonious, stable and progressive labor relations; creating motivation for the labor restructuring process, encouraging businesses to improve productivity, invest in technology to optimize costs and improve the quality of human resources, making the labor market more competitive.
This minimum wage increase is a great effort to balance the interests of workers and businesses. However, along with the wage increase, it is especially important to have effective solutions to control prices, especially for essential goods, because otherwise, the increase in income will only "follow" the price and not really improve the quality of life for workers.
Source: https://daibieunhandan.vn/tang-luong-tang-chat-luong-song-10389259.html
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