A recent study by Euronews Business has shed light on the varying proportions of minimum wage income spent on rent across Europe. The report reveals that in countries such as France, minimum wage earners allocate 35% of their income to rent, while in the Netherlands, this figure jumps to 56%. These findings underscore the financial strain that housing costs place on low-wage workers in the EU.
The study, conducted by the European Trade Union Confederation (ETUC), highlights that in 14 EU member states, rent for a property with up to two bedrooms consumes at least 35% of the income of workers on the statutory minimum wage. On average, minimum wage earners across these countries spend 45% of their earnings on housing alone, making it a significant financial burden for many.
Among the 14 countries included in the research, minimum wages range from €477 in Bulgaria to €2,571 in Luxembourg. The average rent for a property with up to two bedrooms across these countries is €600, with variations from €215 in Bulgaria to €1,340 in Luxembourg.
The report also examines the portion of total household expenditure allocated to housing, water, electricity, gas, and other fuels. Slovakia, Finland, and Denmark were found to have the highest proportions of household spending dedicated to these essential needs, while Malta and Croatia allocate a smaller share of their expenses to housing and utilities.
Overall, the study underscores the challenges faced by low-wage earners in the EU when it comes to housing costs and highlights the need for policies aimed at reducing the financial burden on this vulnerable group.
Source
Photo credit www.euronews.com
