Economy, Domestic Economy

Labor Council Sets Living Wage

Labor Council Sets Living Wage Labor Council Sets Living Wage

The Supreme Labor Council set the living wage for a 3.3-member Iranian household in the current year (March 2017-18) at 26.7 million rials ($568) on Tuesday, close to 1.81 million rials ($38.5) more than that of last year.  Food and beverage expenditures accounted for 25.7% of the figure and non-food items made up 74.3% of the households’ expenditures, Mehr News Agency reported.  The council consists of government officials, including Minister of Cooperatives, Labor and Social Welfare Ali Rabiei, as well as representatives of workers and employers.  It is two years now the council sets the living wage of Iranian households—a theoretical wage level that allows an individual to afford adequate shelter, food and other necessities as the overture for determining the minimum wage of the following year. 


Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Add new comment