Amount of the minimum monthly wage within the framework of normal working time from 1 January 2021 is 500 euro per month.
There is a decentralised wage setting system in Latvia and one minimum wage level that is binding for all employers. Main provisions regarding minimum wage are regulated by Section 61 Paragraph two of the Labour Law.
In compliance with the Law, the wage shall not be less than the minimum level determined by the state.
In addition to the national regulation of the minimum wage, social partners may specify wages in the relevant company or industry in collective agreements with employers or in the industry. According to the principle of labour rights that a collective agreement may not impair the status of an employee in comparison with laws and regulations (Section 6 of the Labour Law), thus only a higher wage may be specified in collective agreements.
The minimum monthly wage within the scope of normal working time, the minimum hourly wage rates, as well as procedures for the review of the minimum monthly wage is determined by the Cabinet of Ministers:
Regulation of the Cabinet of Ministers No.656 of 24 November, 2015 “Regulations Regarding Amount of the Minimum Monthly Wage within the Framework of Normal Working Time and Calculation of the Minimum Hourly Wage Rate”
More information on National Minimum monthly wage by year is available here.
For more information on Wage Data, visit website of the Central Statistical Bureau.