The Histadrut national labor union and the Federation of Israeli Employers have agreed to raise the minimum wage to 5,300 shekels ($1,334) by 2017, approximately half the average salary in Israel.
The employers and the union previously agreed to a three-stage hike in the minimum wage. The latest agreement adds a fourth stage whole pegging the minimum wage at 47.9 percent of the national average instead of 51.9 percent.
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The first stage in the increase takes effect Wednesday, April 1, when the minimum wage will be 4.650 shekels ($1,170).
The next increase won’t be until July 2016.
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