Treasury, Histadrut agree to raise minimum wage to NIS 4300

The minimum wage will rise almost 12 percent by 2012, after a deal was reached on Tuesday between Finance Minister Yuval Steinitz and Histadrut labor federation Chairman Ofer Eini.
The two issued a statement outlining their deal, which will see the minimum wage rise from its current level of NIS 3,850 to a level of NIS 4,100 in July 2011, before increasing to NIS 4,300 in October 2012.
A bill on the changes will now be presented to the Knesset and the previous agreements between the Finance Ministry and Histadrut will be amended.
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