Luxembourg, at €38,800.85, has the highest average annual net wage (the year 2016) in the European Union, for a single person, without children.
The monthly minimum wages disparity is significant with Luxembourg recording the highest at €1,999 and Albania the lowest at €181
Average monthly minimum wages in European Countries:
|Rank||Country||Average Monthly Minimum Wage (EURO)|
|6||The United Kingdom||1,397|
|17||The Czech Republic||420|
The United States equivalent wage is €1,101. Austria, Finland, Italy, Cyprus, Sweden, and Denmark have not been included as they don’t have a national minimum wage.
The average net annual wage for countries of the European Union:
|Rank||Country||Average Annual Wage (EURO)|
Luxembourg continues to lead in the annual net wages for singles without children category; Bulgaria records the lowest at €4,333.93.
The wage difference has led to the migration of people from lower income countries to higher income regions within the EU and has been the source of stress among EU members.
In December 2017, the unemployment rate in EU (28 members) was 7.3%. This was the lowest rate recorded since 2009. Among EU member states, Czech Republic (2.3%), Germany (3.6%), and Malta (3.6%) recorded the lowest unemployment rate, while the highest unemployment rate recorded was by Greece (20.6%) and Spain (16.4%).
Between October 2016 and October 2017, the unemployment rate fell maximum in Greece, from 23.3% to 20.7%, Croatia from 12.5% to 10.0%, Portugal from 10.2% to 7.8%, and Spain from 18.5% to 16.4%.
The unemployment rate in the United States was 4.1% in December 2017, down from 4.7% in December 2016.
In December 2017, 3.654 million youth under 25 years in the EU (28 countries) were unemployed. The rate of unemployment stood at 16.1% in December 2017, down from 18.0 in December 2016.
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