Minimum wage report on the way
NASSAU, BAHAMAS — Director of Labour Robert Farquarson yesterday applauded Baha Mar’s decision to implement a ‘cost of living adjustment’ to salaries of eligible staff in order to combat rising inflation costs.
“We live in a free-market society and whenever an employer chooses to look at the labor market, look at the conditions in which employees work, and improve their terms in the conditions of employment, the department of labor is extremely grateful for that gesture by Baha Mar,” Farquharson said in an interview with Eyewitness News.
“We know of other employers, like Atlantis, that have recently done the same thing.
“That all goes well for the workers in our country and we hope that many other employers will also take into account the recent increase in the cost of living.”
In a letter to associates, Baha Mar President Graeme Davis said all eligible line staff associates will receive a three percent cost of living adjustment.
Other line staff and professional associates shall be eligible to receive a performance-based merit increase of up to five percent.
The cost of living adjustment and merit-based performance is expected to take effect during the pay period May 8, 2022, and would be reflected in associates’ checks on May 12.
Criteria for eligibility were not included in the letter.
Farquharson said the move coincides with the government’s position to increase the minimum.
“The recommendation for the minimum wage is expected to be presented very very soon to the National Tripartite Council for consideration.”
He said that report is expected to be submitted to the government shortly thereafter.
While he could not give a timeline on that increase, he said the government is anxiously awaiting a report from the council to make its decision.
Farquharson noted however that a separate report will have to be produced to look into a possible livable wage for Bahamians.
During the Progressive Liberal Party’s (PLP) campaign trail, it promised that if elected to govern, it would recommend the country’s minimum wage be increased to $250 per week and reduce value-added tax (VAT) to 10 percent “across the board” for 12 months.
The Davis administration’s Speech from the Throne also promises an increase in minimum wage and phase into a livable wage.
The country’s minimum wage is currently $210 a week.
The last minimum wage increase was in 2015, during the Christie administration, from $150 per week to $210 per week.
Prior to that, there had been no change in the country’s minimum wage since January 2002.
