The Concept of Minimum Wage - The Case of the Republic Of Macedonia

Abstract

A well-designed and effective minimum wage can contribute to a better and fair distribution of the fruits of progress for all, without distorting the economic dimension. In this regard, the paper analyzes the minimum wage system in the Republic of Macedonia. Тhe paper generally follows the basic dimensions of the minimum wage: the level of minimum wage, the coverage of the minimum wage and the ratio of the minimum to the average wage. For that purpose, an analysis is based on data from the European Statistical Office (Eurostat) and the State Statistical Office (SSO). The paper cover time period from 2006 to 2017, while the analysis generally is focused on 2017. Thus, we made attempt to calculate the level of minimum wage in Macedonia for 2017, as well as to compare the situation in Macedonia with selected countries in the region.