Australia is the top Asia Pacific country to live in although you have minimum wage. How about Malaysia & Indonesia?
PICODI chose to compare the pricing of fundamental food products with the minimum wages to see how much of the minimum income a person has to spend on necessary products because food preferences and conceptions of a comfortable living differ from region to region, and even from person to person.
There are eight product groups on the list. Although the list is short, the quantities listed are sufficient to meet the minimum nutrient requirements of the average adult:
Milk (10 liters)
Bread (10 loafs 500 g each)
Rice (1.5 kg)
Eggs (20 pcs.)
Beef and Poultry (6 kg)
Fruits (6 kg)
Vegetables (8 kg)
The United Kingdom, Ireland, and Australia are the top three countries in this category, according to the PICODY research. The proportion of basic products to the minimum wage varies between 6,6 and 7,3 percent.
Aside from that, the condition of minimum wage laborers in India (a country in the Asia Pacific) is difficult. It's because the bare minimum cost of basic food items eats up over half of their income.
Malaysia is the top country in Southeast Asia, according to the survey, despite being ranked 45th out of 64 countries with a score of 35.3%. Thailand (52,7%, 57th position) and Indonesia (52,7%, 57th place).
"A year ago, these products (In Malaysia) were worth 34.5% of the minimum wage.
“This means that prices have been rising faster than the current minimum wage.
“These are deemed sufficient to meet the minimum nutrient requirements of the average adult and valued at RM372 at the beginning of 2022,” it said.
Malaysia was ranked 55th in this rating, with the minimum salary remaining unchanged in January 2022. The minimum wage in Indonesia grew by 1.4 percent year over year (52nd place)
In comparison to the previous year, there were no adjustments in the minimum wage in ten nations in 2021, according to the research. Thailand and Vietnam are two among them.
Source : Picodi Minimum Wage 2022 Report
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