Economy, Domestic Economy

Minimum Wage

Minimum WageMinimum Wage

The Supreme Labor Council on Sunday set the minimum monthly wage for the upcoming Iranian fiscal year (starting March 21) at 7.12 million rials ($254 based on the official exchange rate), which shows a 17% increase compared with the 6,089,100 rials ($229) in the current Iranian year, ISNA reported. Based on Iran’s labor law, the Supreme Labor Council – a body affiliated to the Ministry of Cooperatives, Labor and Social Affairs — sets the minimum wage for workers every year with regard to the official inflation rate. The Supreme Labor Council recently proposed that the minimum wage for workers should rise twice a year. There is no immediate report as to how the proposal is being followed through.