In the last 3 years, the poverty line has increased 7 times and the hunger line has increased 5 times. The report pointed out that even though the minimum wage increased, it could not keep up with the rising inflation.
The report "Minimum wage in Istanbul - a minimum wage policy based on the cost of living" was prepared by the Istanbul Planning Agency (IPA) affiliated with the Istanbul Metropolitan Municipality (IBB).
In the report, before the 2024 minimum wage was clarified, the relationship of the 2023 minimum wage with the purchasing power in Istanbul, other country minimum wages and the cost of living was examined.
The report points out that no matter how much the minimum wage increases, it cannot keep up with the inflation rate that climbs every day.
"Many mandatory expenses, especially food and housing, cost much more for households living in Istanbul compared to other cities," the report said.
RENTS IN ISTANBUL INCREASED BY 732.1 PERCENT COMPARED TO 2019
According to the report, rental prices in Istanbul in November 2023 increased by 75.7 percent compared to the previous year and 732.1 percent compared to the same month of 2019. The average rental price increased up to 1.5 times the minimum wage.
"Calculations show that even if a household receives two minimum wages, it will not be easy to meet the cost of living in Istanbul and one will live on the brink of poverty. It is seen that young people's motivation to search for a job and work is broken due to the minimum wage, which does not meet the cost of living in Istanbul despite the increases, and they turn to strategies of making money the easy way," the report added.
“POVERTY LIMIT INCREASED 7 TIMES”
The minimum cost of living for a family with two adults and 2 children in November 2023 was calculated as 47 thousand 493 TL. The report stated that poverty increased 7 times and made the following statements:
"In 2020, these figures were determined as 1,116 TL for the hunger line and 3,539 TL for the poverty line. In just 3 years, the poverty line has increased 7 times and the hunger line has increased 5 times. Despite the significant increase in the minimum wage, the gap between the minimum wage and the poverty line has widened in just three years, and even two minimum wages have become insufficient to exceed the poverty line in Istanbul."