In one month, the National Council for Work and Wages must analyze and define the basic salary that will prevail in 2024, and although there is no date yet for the beginning of the meetings of representatives of workers and employers, the rulebook gives them a deadline of December 20. the sector prepares its proposals and arguments.
On the business side, the goal is to make the calculation technical; while the trade union headquarters that form the United Workers’ Front (FUT) propose a specific amount: 550 dollars.
2024 pay rise: Workers propose to match basic pay to vital $550 basket, employers hope calculation is technical
This value corresponds to the vital family basket established by the National Institute of Statistics and Census (INEC) which currently stands at USD 550.74 -data from September 2023-. The current base salary is $450.
There are two analytical baskets that INEC monitors, the basic family basket that includes 75 products out of 359 that make up the basket of items (goods and services) with which the consumer price index (CPI) is determined every month, which measures inflation.
The vital family basket consists of 73 products, but in a smaller quantity and quality than the basic basket.
Workers are waiting for a consensus with employers so that the basic salary in 2024 would not be determined by the current government or the one elected on October 15.
Both baskets allow us to know the erosion of the purchasing power of wages due to inflationary influences, in terms of the composition of effective consumption expressed as monetary expenditures, explains INEC.
The products that make up these analytical baskets are considered essential for satisfying the basic needs of the home, divided into consumer groups and subgroups: food and drink, housing, clothing and miscellaneous items.
Food and drink
living place
Dress
various
The vital family basket increases with age. In September 2022, it was $534.46, and at the beginning of 2023 it was $539.78. It is now $550.74 and at that level FUT is proposing to equalize the base salary.
Source: Eluniverso
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