10.12 euros per hour: one of the highest minimum wages in Europe

A minimum wage of 1,500 euros gross per month would be one of the highest minimum wages in Europe. "For an international comparison, the regulations on 13th and 14th pay must be taken into account, which do not exist in most other countries. If they are included in the calculation, the hourly wage in Austria would be 10.12 euros," explains Tobias Thomas, head of the economic research institute EcoAustria. "This would put the Austrian minimum wage at the top of the European league table. The Austrian minimum wage would be 1.28 euros or 14 percent higher than in neighboring Germany and it would even be higher than in France, where the minimum wage of 9.76 euros is in the upper range. If non-wage labor costs are taken into account, the gap to most other countries widens further, as non-wage labor costs in Austria are very high in international comparison - a competitive disadvantage for Austria as a business location," says Thomas.

"The level of the proposed minimum wage is likely to have unintended side effects," says Thomas. "In Germany, for example, cab prices rose by a good twelve percent after the minimum wage was introduced in 2015, and by almost 20 percent in eastern Germany. Especially where price increases are not possible, the minimum wage will have a negative impact on employment and that would be particularly bitter," emphasizes Thomas. In its latest annual report, for example, the German Council of Economic Experts points out that 60,000 more jobs would have been created in Germany without the minimum wage