He Argentine government set the new mandatory minimum wage, raising it by 9% in April and another 6% in May, according to a resolution published this Friday in the Official Gazette, after an agreement was not reached between representatives of unions and businessmen.
As of April 1, the minimum vital and mobile wage advanced to 221,052 Argentine pesos (US$ 246 at the current official exchange rate), from 202,800 pesos, for all workers who complete the full legal work day each month. As of May 1, it amounts to 234,315.12 pesos (US$ 261).
The Government of Javier Milei had convened the National Employment Council to discuss Argentina’s living and mobile minimum wage for April 30, one day before International Workers’ Day, but the parties did not reach an agreement, and the Executive had to intercede as he did last February.
“The representation of the workers unified the proposals“, which was “rejected by the representative sector of employers, which is why there was no consensus,” then the Executive found itself “under the obligation to issue an award”, says the resolution of the Ministry of Labor.
The call was launched in the midst of a sharp deterioration in the purchasing power of workers, since year-on-year inflation climbed to 287.9% and in the first quarter it stood at 51.6% against an increase in 30% on the minimum wage.
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Source: Gestion
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