Cyprus has a new minimum wage. This change started this year. It helps workers get more money. But, the economy is not as strong. People feel a little less happy. This is because the services part of the economy is weak. Other parts are okay.
New rules for minimum wage start now. New workers will get €979 each month. This is more than before. Workers who stay at their job will get more money. They will get €1,088 each month. This helps with higher prices. It also makes businesses fairer.
Even with more money for workers, people felt less sure in November. The main number went down a little. This was because services businesses were not happy. They did not make as much money.
But other parts of the economy are better. Shops feel good about selling things. Building companies have more work. Factories also feel better. They think they will get more orders.
People also feel better about their own money. They think their money is good. They are happy about the future. This good feeling helps the economy.
The new wage will help many people. But we must watch the economy. We will see how wages and feelings change.