GhanaStar
  • News
  • Sports
  • Entertainment
  • Politics
  • Business
  • Music
No Result
View All Result
GhanaStar
  • News
  • Sports
  • Entertainment
  • Politics
  • Business
  • Music
No Result
View All Result
GhanaStar
No Result
View All Result
Home Business

Economy Cannot Support Minimum Wage Above 10% Increase

September 11, 2016
in Business
Share on FacebookShare on Twitter

The Minister of Employment and Labour Relations, Haruna Iddrisu has explained to members of the Ghana Employers Association(GEA) that even though the 10 percent increase in the National Daily Minimum Wage may not be sufficient, the economy can support it anything above the figure.

You Might Also Like

Nana Akufo-Addo Has Won 2020 Ghana Elections with 51.7% of the Vote

Online Casino Best-Themed Games

Utilize Reliable Exam Dumps to Attain Cisco 300-320 R&S Certification Easily

Government recently increased the Daily Minimum Wage by 10 percent, moving it from 8 cedis to 8 cedis and 80 peewas per day, yet take effect next year.

Explaining to members of the Ghana Employers’ Association at their Annual General Meeting, Mr. Iddrissu stated that government arrived at the figure after an overall assessment of the economy.

“What we have in Ghana is minimum wage and not a living wage. It supports economic subsistence, it cannot make life bearable at the same time. Am sure some day we will walk the journey of a living wage when we do better and employers do better,” he said.

Mr. Iddrisu stated that there have been many reactions after the announcement because most people are unaware of how the figure is determined.

“For many who don’t understand the principle of the National Daily Minimum Wage, it was to take a swipe at the government that the 80 pesewas was too small. For many of you businesses you understand that it is cost for you so it cannot be small,” he said.

Outlining some of the reasons by the 10 percent increase, he stated that government examines the fundamentals of the economy to make sure the fiscal position can support the increment before it is implemented.

“In determining it we do an overall assessment of the performance of the economy and what its implication will be. Wage negotiations and its determination remains a principal way policy instrument by government for purposes of economic subsistence,” he said.

Sign up for Ghana Star News to receive daily email alerts of breaking news in Ghana. GhanaStar.com is your source for all Ghana News. Get the latest Ghana news, breaking news, sports, politics, entertainment and more about Ghana, Africa and beyond.

Tags: Annual GeneralBusiness_FinanceEmployment compensationghanaGhana Employers AssociationHaruna IddrisuIddrissuIncome distributionLaborLabour economicsLabour lawLabour relationsLiving wageMinimum wageMinimum wage in the United StatesMinimum wage lawministerpolitics

Related News

Covid-19: President Akufo-Addo To Address Ghanaians Tonight

Nana Akufo-Addo Has Won 2020 Ghana Elections with 51.7% of the Vote

by ghanastar
December 9, 2020
0

Nana Akufo-Addo won Ghana’s national election, becoming president-elect at the third attempt and cementing the country’s reputation as a standard-bearer...

Online Casino Best-Themed Games

Online Casino Best-Themed Games

by ghanastar
July 9, 2020
0

Whether you like casino games or not, we can all agree that people like themes, and they express their lover...

Utilize Reliable Exam Dumps to Attain Cisco 300-320 R&S Certification Easily

by ghanastar
July 14, 2020
0

Cisco’s certifications are among the most popular credentials for IT professionals. The company is considered to be one of the...

Burkina Faso: Attack on Church Kills at Least 14

by
December 1, 2019
0

At least 14 people have been killed after gunmen opened fire inside a church in Burkina Faso. The victims were...

Next Post

David Opoku On Target For Tripoli AC In Lebanese Top-Flight

Bernard Mensah Impresses Despite 0-3 Thrashing By FC Porto

Categories

  • Africa & World
  • African Music Lyrics Directory
  • Business
  • Business Directory
  • celebrities
  • Computing
  • Diaspora
  • Entertainment
  • Events
  • Feature
  • Featured
  • Ghana Elections 2016
  • Headlines
  • Health
  • International
  • Internet
  • Jobs
  • lifestyle
  • Music
  • News
  • Offbeat
  • Opinion
  • Politics
  • Profiles
  • Religion
  • Security
  • Seth Terkper
  • Smart Home
  • Social Networks
  • Sports
  • Technology
  • Top Stories
  • World News

Tags

accra addo africa Association football Banks - NEC business Business_Finance chairman Donald Trump economy education Entertainment_Culture environment Geography of Africa ghana Ghanaian people government Government of Ghana Human Interest John Dramani Mahama john mahama Law_Crime mahama minister MPs elected in the Ghanaian parliamentary election Nana Addo Nana Addo Dankwa Nana Akufo-Addo National Democratic Congress National Democratic Congress (NDC) New Patriotic Party New Patriotic Party (NPP) nigeria politics Politics of Ghana president Social Issues Social Media Social Media & Networking sports United Kingdom United Nations United States Vice President War_Conflict

Recent Posts

  • Government of Ghana Unveils Official Portraits of President John Dramani Mahama and Vice President Prof. Naana Jane Opoku-Agyemang
  • Who Is the Woman (Sheena Gakpe) in Sarkodie’s Latest Hit “No Sir” and Why Everyone Is Talking about It
List of Ghana Holidays for 2020
Ghana Geocoding
Ghana Cedis Exchange API
Ghana Maps Service
Toyota Cars Auto Auction History
  • African Music Lyrics Directory
  • Business Directory
  • Diaspora
  • Top Stories

All rights reserved © 2021 GhanaStar.com

No Result
View All Result
  • News
  • Sports
  • Entertainment
  • Politics
  • Business
  • Music

All rights reserved © 2021 GhanaStar.com