Published by Youri Kemp, Nassau Guardian, October 7th, 2024
The Bahamas Chamber of Commerce and Employers’ Confederation’s (BCCEC) labor division head said that the agenda for the National Tripartite Council (NTC) is to look at an increase in the minimum wage, as well as a suitable livable wage figure.
Peter Goudie, who is also a councillor on the NTC, told Guardian Business that now that the NTC has been officially named and formed, it can move forward with addressing concerns on another minimum wage increase as indicated by the Minister for the Public Service and Labor Pia Rolle. Rolle indicated last week, during the Commemorative Launch of the National Youth Month Homecoming 2024, that a second increase to the minimum wage is possible during the current administration’s term in office.
The current minimum wage in Bahamas is $260 per week and became valid on January 1, 2023, when it was raised from $210 per week.
“We’re also going to start looking at the living wage, which is a huge project, because I’m not so sure that everybody totally understands what it means, who it affects and when it affects you,” said Goudie.
“It depends on your education, your experience and all of that. We haven’t even looked at that yet. I have been on courses with the International Labor Organization (ILO) on it and so have some others on the NTC. But then we’ve got to start putting that together, along with help from the ILO.”
A 2020 study by the Government and Public Policy Institute of University of The Bahamas concluded that a living wage in New Providence and Grand Bahama is $2,625 and $3,550 per month respectively, something Goudie believes is unattainable at this time. Goudie said he has reached out to the UB, received the 2020 study and asked them how they have gotten to their figures, but ultimately businesses “can’t afford that”.
“You start talking the amount that UB has come up with, it’s going to take a long time to get there, being that businesses have to afford it. There are a lot of other things to go into it. I don’t know that we’re going to get to the kind of numbers on the livable wage that people want to see, but I think it’s going to increase eventually.”
Read the entire article here >>> https://www.thenassauguardian.com/business/national-tripartite-council-to-look-at-minimum-wage-and-livable-wage/article_57b05664-8373-11ef-bd04-a770e800f100.html
