Lao Govt Raises Minimum Wage to Address Rising Living Costs

03/10/2024 10:52
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KPL The Ministry of Labour and Social Welfare has introduced a new minimum wage policy to help workers cope with rising living costs and the depreciation of the Lao kip.

(KPL) The Ministry of Labour and Social Welfare has introduced a new minimum wage policy to help workers cope with rising living costs and the depreciation of the Lao kip.

Effective October 1, private sector employers, including those in production, business, services, and household sectors, are required to pay a minimum monthly wage of 2.5 million kip (USD 114). The wage hike aims to provide financial relief for workers earning below this threshold, excluding overtime, welfare payments, and other benefits.

Additionally, unskilled workers without formal education or training will receive a subsistence allowance of 900,000 kip (USD 41) to ensure fair compensation for all employees.

Employers currently paying less than the new minimum wage must adjust their salaries, while those already meeting or exceeding the standard are encouraged to maintain their wage levels.

Previously, the minimum wage was set at 1.6 million kip per month (USD 75). However, with the significant rise in living costs, the government has deemed further support for workers across the country necessary.

KPL

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