National Minimum Wage rises 9% in January and will be located at $ 21,106

National Minimum Wage rises 9% in January and will be located at $ 21,106

The Minister of Labor and Social Security, Pablo Mieres, announced that the national minimum wage will increase 9% from January 2023, which will stand at 21,106 pesos.

The measure was communicated by the Secretary of State to the Superior Tripartite Council (photo), in agreement with the Ministry of Economy and Finance. “It will be above the inflation that occurred in the year,” said Mieres.

Interviewed by journalistic media, he pointed out that for the third consecutive year the Government establishes an increase in the national minimum wage above inflation and that this rules out the decrease in the purchasing power of workers.

In addition, he appreciated that this indicator serves as a guideline for all sectors of activity and that it is even taken by the informal labor market in many cases. “In general, in formal work, the wage awards are above the minimum wage,” he said.

Regarding the average salary index, he maintained that the Government will wait until the end of the year to evaluate how the consumer price index (CPI) closes, and that then the new salary indicator will be established.

He also announced that the tenth round of salaries will take place in July 2023, for which the Executive Power plans to present a recovery proposal that completes the process developed in this regard.

On this point, he recalled that the public sector has already reached an agreement that will be completed in 2023, 2024 and 2025. Regarding the private sector, he indicated that its heterogeneity means that the analysis must be detailed, since the situation is varied.

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