Updating of the ILO's Minimum Basic Wage of Able Seamen PDF Download

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Updating of the ILO's Minimum Basic Wage of Able Seamen

Updating of the ILO's Minimum Basic Wage of Able Seamen PDF Author: International Labour Organisation. Joint Maritime Commission
Publisher:
ISBN:
Category : Law
Languages : en
Pages : 32

Book Description
This report describes the methodology of updating of the ILO's recommended minimum basic wage for an able seaman of US$ 435 as agreed by the JMC in 1996. It provides calculations based on sets of assumptions: updated list of countries and areas; changes in consumer prices; changes in exchange rates; purchasing power of the US dollar in January 2000 relative to January 1997; and average change in purchasing power of US$ 435 across selected countries and areas from 1 January 1997 to 1 January 2000. Consequently, the median value obtained represents a decrease compared to the recommended minimum of 1996. This is largely attributable to the current strength of the US dollar.
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