IMPACT – MEDIUM
What is the change? The Czech Republic’s monthly minimum wage has increased from 11,000 Czech korunas to 12,200 (about US$570).
What does the change mean? The minimum wage applies to all workers in the Czech Republic, including foreign workers. Employers should set their budgets accordingly.
- Implementation time frame: Jan. 1.
- Visas/permits affected: Work permits.
- Who is affected: Czech companies, including those employing foreign nationals.
- Business impact: Businesses may see a slight increase in labor costs because of the new minimum wage.
BAL Analysis: The 2018 monthly minimum wage of 12,200 Czech korunas represents an 11-percent increase over last year’s level. Employers should take the new wage minimums into account when planning their 2018 budgets.