hueseo
Joined: 06 Jul 2011
Posts: 423
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 Posted: Mon Oct 31, 2011 11:17 pm Post subject: Minimum wage far below the cost of living |
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The current minimum wage can only cover about 65% of labourers’ basic living standards, according to a new survey.
The current minimum wage can only cover about 65% of labourers’ basic living standards.
The Institute for Workers and Trade Unions, a department under the Vietnam General Confederation of Labour, just released a survey on the minimum wage in relation to the living standards of labourers.
The survey indicated that 35.6% of interviewees said that their income cannot cover their expenses; 44.7% said they had to keep a tight budget in order to ensure their daily needs; 17.9% said that their incomes are just sufficient for their expenses. Only 1.9% said they made an adequate income, and were able to save.
The survey, conducted from April to October in Hanoi, also showed that, on the low end, diet of 2,300 calories per day would cost around VND35,300 (USD1.6 , equal to VND1.059 million (USD47. per month.
Living costs vary according to locations. According to the survey, each labourer in Region 1 requires a minimum wage of VND2.42 million (USD115.7 per month to ensure basic living standards. In Region 2, a labourer would need at least VND2.2 (USD105.26).
A labourer in Region 3 would need VND1.9 million (USD90.9) and one in Region 4 will require VND1.5 million (USD71.77) per month.
The Government’s decision on minimum wages, which came into effect this month, set a new minimum wage, applied to all state employees nationwide, at VND830,000 (USD39.71). From October 1, the minimum wage for private and foreign-invested enterprises located in Region 1 is VND2 million (USD95.2) per labourer per month; Region 2 VND1.78 million (USD85.16); Region 3 VND1.55 million (USD74.16) and Region 4 VND1.4 million (USD66.9). Regions are divided according to their levels of development and GDP's.
Dang Quang Dieu, Head of the institute, said, the survey turned up quite a surprising result, those working for profitable state-owned companies earn an average of VND8-10 million (USD382.7-478.5) per month, three time higher than the average of those working in foreign-invested companies
The survey will be a foundation for the Government and its agencies for future consideration on any adjustments to the minimum wage.
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