January 23, 2017 (Koror, Palau) President Remengesau Jr. submits to Senate yesterday a bill to increase Palau’s minimum wage to $8.50 per hour.
The bill proposes to raise minimum wage gradually starting by raising it from $3.50 to $4.00 by October of this year and by 25 cents each year thereafter until it reaches $8.50 per hour by year 2026.
“For our labor market to remain competitive, it is imperative that we continue to implement periodic minimum wage increases that keep pace with both our rising cost of living and our regional partners,” stated President Remengesau in the his transmittal letter.
President Remengesau calls this bill another “necessary step” toward addressing “brain drain syndrome”.
Similar bill is also transmitted to Speaker Sabino Anastacio of the House of Delegates.