PICODI Malaysia recently released a graphic analysing and evaluating 67 nations depending on how their minimum wage has evolved between Jan 2023 to Jan 2024.
Malaysia placed 59th out of 67 nations in terms of minimum wages.
This study looks not just at the minimum wage, but also at the relationship between rising prices for necessary products and the total cost of living.
According to the survey, Malaysian employees on minimum wage receive an average of RM1,323 each month.
Picodi also announced that essential items for our day to day will cost RM437.58 in January 2024, up 7.9% from RM405.46 in January 2023.
The poll found that the United Kingdom, Ireland, the Netherlands, Luxembourg, and New Zealand had the best minimum wage ratios in terms of salary and necessary costs.