Argentina: Minimum Wage Increased by Almost One-Third Percent
In the latest official gazette, the Argentine government has taken the bold step of increasing the national minimum wage by 31% to 4,400 pesos a month. The hike is a result of a meeting of the annual Wage Council, which also agreed that the minimum rate would be increased once again in January to 4,716 pesos.
The increase comes at the end of the summer, where many unions have established average wage increases of circa 30% for their workers.
Argentina’s wage inflation is one of the highest in the world and this latest increase to the minimum wage will do little to change the trend.