The minimum wage in Latin America is always a topic of discussion, since economic needs and changes require a constant update of salaries. Furthermore, workers are always pushing and fighting for new increases; Therefore, among the countries in the region there is a great difference in the established amount.
In this note, we detail how much the minimum wage is in each Latin American country, as well as what the lowest and highest amount is, according to a report prepared by The Republic of Colombia.
What is the lowest salary in Latin America and which country has it?
In Latin America, there is a wide disparity in the minimum wages of different countries; In this way, Venezuela has the lowest salary, with US$30. It is followed by Argentina, which despite the fact that its inflation has reached historical peaks and has been increasing its salary gradually: it now reaches US$189. Then there is the Dominican Republic, with US$205.
Peru is the seventh country with the lowest salary, with US$269 per month; Before this is Brazil, with US$250. However, despite the differences in salary amounts, there are some similarities. “For example, in Bolivia and Peru it is set by the Government after a tripartite discussion between representatives of workers, employers and the Government,” said Juliana Morad, professor co-director of the Labor Observatory of the Javeriana University to La República de Colombia.
What is the highest salary in Latin America?
At the opposite end of the spectrum, we find Costa Rica, Chile and Ecuador as the countries with the highest minimum wages in the region. According to the ranking, Costa Rica tops the list with a minimum salary of US$610; followed by Chile, with US$475, and then Ecuador, with US$450.
These countries have guaranteed higher wages for their workers, which can have a significant impact on the quality of life and well-being of the population.
Ranking of minimum wages in Latin America
- Venezuela: US$30
- Argentina: US$189
- Dominican Republic: US$205
- Uruguay: US$240
- Colombia: US$242
- Brazil: US$250
- Peru: US$269
- Honduras: US$316
- Mexico: US$325
- Bolivia: US$325
- Panama: US$326
- Paraguay: US$349
- El Salvador: US$365
- Guatemala: US$403
- Ecuador: US$450
- Chile: US$475
- Costa Rica: US$603
Source: Larepublica
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