How much is the minimum wage in Latin American countries in 2021?

The minimum wage is the minimum amount that must be paid to a worker through a law established for the work activities they have performed in a given time, according to the International Labor Organization (ILO).

“The purpose of establishing the minimum wage is protect workers from paying unduly low wages”, Explained the ILO.

In addition, it is of great importance as part of a country’s social policies for achieve reduce poverty and inequality. And it cannot be lowered “neither by virtue of a collective agreement or an individual agreement,” adds the agency.

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Due to its importance in social, economic and political spheresHere is a guide that includes the minimum wages that are established by law for 2021 in some Latin American countries.

Argentina

As of Wednesday, September 1, the minimum wage in Argentina is US $ 298.03 per month.

Peru

The minimum wage in Peru, known as minimum living wage (RMV), is US $ 227.54 per month (as long as they work eight hours a day or 48 hours a week).

Chile

The minimum wage in Chile is divided into three and is monthly:

• Workers over 18 years old and up to 65 years old: US $ 438.36
• Workers under 18 and over 65: US $ 327.01
• Minimum monthly income for non-remuneration purposes: US $ 282.56

Brazil

In the case of Brazil, the minimum wage for 2021, effective since January, is US $ 213.17 per month.

Uruguay

As of January 1, 2021, the national minimum wage in Uruguay is US $ 421.98 per month.

Bolivia

According to Supreme Decree No. 4501 of January 1, 2021, the minimum wage in Bolivia is US $ 313.96 per month, for both public and private sector workers.

Mexico

In the country, the minimum wage is divided into of the areas geographical:

• Border Free Zone (43 municipalities in six states: Baja California, Sonora, Chihuahua, Coahuila, Nuevo León and Tamaulipas): US $ 10.02 per day
• Rest of the country: US $ 6.65 per day

However, the minimum wage in the country will increase by 2022, as announced on Wednesday by Andrés Manuel López Obrador, president of Mexico, and the National Minimum Wage Commission (Conasami).

The minimum wage in Mexico will increase 22% in both areas as of January 1, 2022. Therefore, it will be as follows:

• North Border Free Zone: US $ 12.23 per day
• Rest of the country: US $ 8.12 per day

Guatemala

Here, the minimum wage is divided by economic activities and they range from US $ 10.96 to US $ 12 per day:

• Non-agricultural: US $ 12 per day
• Agricultural: US $ 11.64 per day
• Exporter and maquiladora: US $ 10.96 per day

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Belice

John Briceño, Prime Minister of Belize, noted in his budget speech for fiscal year 2021/2022 that the minimum wage is $ 5 per hour. What kind of dollars is not specified; however, in Belize the currency is the Belizean dollar.

The Savior

Last August 1, El Salvador’s new minimum wage rates went into effect. In this country, it is divided into six sectors, where the lowest minimum wage is US $ 8 and the highest, US $ 12 a day.

The following amounts are also daily minimum wages:

• Sugarcane harvest: US $ 8.96
• Coffee pickup: US $ 8
• Agricultural sector, fishing and other agricultural activities: US $ 8
• Trade, services, industry, sugar mills and other agribusiness activities: US $ 12
• Textile and clothing machine: US $ 11.81
• Coffee benefit: US $ 8.96

Honduras

The new minimum wage rates in Honduras came into effect on July 1 of this year. Here, the amounts are divided into 11 branches of economic activity and increase according to the number of workers per company. The range is between US $ 9.78 and US $ 18.57 per day.

The following figures are also minimum wages per day:

Agriculture, forestry, hunting and fishing

• From 1 to 10 workers: US $ 9.78
• 11 to 50: $ 10.32
• 51 to 150: $ 11.09
• 151 and up: US $ 11.88

Mining and quarrying

• From 1 to 10 workers: US $ 13.37
• 11 to 50: $ 13.77
• 51 to 150: $ 15.93
• 151 and up: US $ 17.83

Manufacturing industry

• From 1 to 10 workers: US $ 13.12
• 11 to 50: $ 13.96
• 51 to 150: US $ 16.15
• 151 and up: US $ 18.08

Electricity, gas and water

• From 1 to 10 workers: US $ 13.80
• 11 to 50: US $ 14.22
• 51 to 150: US $ 16.44
• 151 and over: US $ 18.41

Construction

• From 1 to 10 workers: US $ 13.55
• 11 to 50: $ 13.96
• 51 to 150: US $ 16.15
• 151 and up: US $ 18.08

Wholesale and retail trade

• From 1 to 10 workers: US $ 13.55
• 11 to 50: $ 13.96
• 51 to 150: US $ 16.15
• 151 and up: US $ 18.08

Restaurants and hotels

• From 1 to 10 workers: US $ 13.55
• 11 to 50: $ 13.96
• 51 to 150: $ 16
• 151 and up: US $ 17.41

Transportation storage and communications

• From 1 to 10 workers: US $ 13.68
• 11 to 50: US $ 14.09
• 51 to 150: $ 16.30
• 151 and up: US $ 18.24

Financial establishments, real estate and services provided to companies

• From 1 to 10 workers: US $ 13.92
• 11 to 50: US $ 14.34
• 51 to 150: $ 16.59
• 151 and up: US $ 18.57

Community, social and personal services, security and cleaning

• From 1 to 10 workers: US $ 13.31
• 11 to 50: US $ 13.71
• 51 to 150: US $ 15.86
• 151 and up: US $ 17.75

Hospital activities

• From 1 to 10 workers: US $ 13.31
• 11 to 50: US $ 13.71
• 51 to 150: $ 15.67
• 151 and over: US $ 17.21

Nicaragua

The new minimum wage rates have been in effect in Nicaragua since last March 1. They are divided into 10 sectors and the range goes from US $ 4.41 to US $ 9.37 per day.

The following amounts are minimum wages per day:

• Agricultural: US $ 4.1
• Pesca: US$ 6,37
• Mines and quarries: US $ 7.52
• Manufacturing industry: US $ 5.63
• Industries subject to taxation: US $ 6.57
• Micro and small national artisan and tourist industry: US $ 4.41
• Electricity and water; commerce, restaurants and hotels; transportation, storage and communications: US $ 7.68
• Construction, financial establishments and insurance: US $ 9.37
• Com services. social and personal: US $ 5.87
• Central and municipal government: US $ 5.22

Costa Rica

Costa Rica’s minimum wages for 2021 are divided by type of worker. The Government shows some wages per ordinary day (ranging from US $ 17.06 to US $ 34.58) and others per month (ranging from US $ 511.86 to US $ 1,093.34).

Here are all types of workers:

• Worker in unskilled occupation: US $ 17.06 per ordinary day
• Worker in semi-skilled occupation: US $ 18.55 per ordinary day
• Worker in skilled occupation: US $ 18.97 per ordinary day
• Worker in specialized occupation: US $ 22.28 per ordinary day
• Higher specialization worker: US $ 34.58 per ordinary day
• Worker in unskilled occupation (generic): US $ 511.86 per month
• Worker in semi-skilled occupation (generic): US $ 550.01 per month
• Skilled Occupation Worker (generic): US $ 575.88 per month
• Middle technician in diversified education: US $ 603.48 per month
• Worker in specialized occupation (generic): US $ 650.31 per month
• Higher education technician: US $ 743.73 per month
• Higher Education Diploma: US $ 803.26 per month
• University Bachelor: US $ 911.08 per month
• University degree: US $ 1,093.34 per month

Panama

The monthly minimum wage in Panama is, on average, US $ 625 and is negotiated every two years. This entered into force from January 2020. In January 2022, a new one must enter, according to the law.

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Paraguay

Since the adjustment that took effect on July 1 of this year, the minimum wage in Paraguay is US $ 330.81 per month.

Ecuador

The minimum wage that Ecuador established for 2021 is US $ 400 per month. It is known as a unified basic salary (SBU).

Colombia

The Colombian government established the minimum wage for 2021 at US $ 242.02 per month and US $ 28.36 in transportation assistance.

Venezuela

According to Freddy Ñañez, sector vice president of Communication, Culture and Tourism of Venezuela, the minimum wage in the country was established at 7,000,000 bolivars, which at today’s exchange rate is US $ 1.74 per month.

Puerto Rico

According to the Puerto Rico Department of Labor and Human Resources, the minimum wage in the country is US $ 7.25 per hour.

Cuba

Granma, Cuba’s official media outlet, reported that the minimum wage for the island in 2021 is US $ 87.48 per month.

Dominican Republic

In July, the minimum wage in the Dominican Republic was established at US $ 351.91 per month for large companies; at US $ 325.51 for medium-sized companies; at US $ 218.18 for small companies; and US $ 202.35 for microenterprises.

With information from CNN.