The Department of Labor announced a $10 wage increase starting in January 2024, bringing the base salary to $460.

Through this state portfolio, the government claims that the increase occurs “despite the economic situation the state is going through, which is manifested in a fiscal deficit greater than that indicated by the previous government.”

The $10 per month increase will take effect on January 1, 2024, according to ministerial agreement no. MDT-2023-175, issued on December 15, 2023.

Workers: If the basic salary is not raised by at least $25, “this government would be worse than Las, employers are ready for that”

“We believe this increase is in line with President Noboa’s economic and social policies for an efficient redistribution of wealth,” Labor Minister Ivonne Núñez said in a statement.

Núñez also announced this through a video released by the Ministry of Labor.

He points out that a technical decision was made, “considering the economic and social situation in the country, which favors our workforce, and also takes into account our production sector.” To determine the value, the inflation projected by the Ministry of Economy and Finance, which is 2.07 percent for the next year, was taken into account.”

For the ministry, in this way, the financial reality of working families and companies is considered with responsibility, fairness and sustainability.

Ministerial agreement