Minimum-wage workers in Turkey just got a 49% pay rise, but they're probably not that happy about it

• Turkey's Labor Minister Vedat Isikhan announced the country's minimum wage will increase 49%.
• It may do more harm than good in the country's effort to curb inflation.
• Minimum wage hikes have occurred in tandem with Turkey's inflation increases for years.

Turkey's labor minister announced the country's minimum wage will increase by 49% in 2024 to 17,002 liras ($577) a month.

But people probably aren't that happy about it.

Minimum wage hikes have occurred in tandem with Turkey's rocketing inflation for years, and 2024 may not be any different.