Tuesday, April 16, 2024

ECONOMY | 21-03-2024 17:01

Survey: Argentina has the lowest minimum wage in dollars in the region

Minimum wage now at the lowest level of the last 20 years, according to a new report by Focus Market consultancy firm.

The minimum wage in Argentina is just US$196 at the current exchange rate – its lowest point in the last 20 years and the worst of all countries in the region.

The finding comes from a report by the Focus Market consultancy firm, which compared the basic remunerations in dollar terms collected by workers in several South American countries. 

Argentina’s minimum wage, measured in this way, is only exceeded by the level recorded in 2002, when the nation exited convertibility.

According to the ranking, Uruguay has the highest basic wage, at US$810; followed by Chile, with US$580 and Brazil, with US$574.

Nationwide, only 13 provinces have workers with minimum wages above US$100 per month, reported Focus Market:

-- Buenos Aires City: US$213.58.
-- Chaco: US$203.29.
-- Jujuy: US$155.77.
-- Entre Ríos: US$152.06.
-- Mendoza: US$151.48.
-- Santa Fe: US$143.55.
-- Santiago del Estero: US$124.36.
-- La Pampa: US$119.61.
-- Tierra del Fuego: US$119.06.
-- San Luis: US$112.79.
-- Córdoba: US$102.05.
-- Neuquén: US$100.12.
-- San Juan: US$100.03.
-- Tucumán: US$97.35.
-- Misiones: US$97.32.
-- Salta: US$97.05.
-- Santa Cruz: US$90.90.
-- La Rioja: US$88.47.
-- Catamarca: US$85.68.
-- Río Negro: US$84.61.
-- Formosa: US$76.63.
-- Buenos Aires: US$75.56.
-- Corrientes: US$69.76.
-- Chubut: US$59.18.

“The devaluation of the peso as against the dollar by 54 percent at the official wholesale exchange rate, the slowdown of money printing, the high uncertainty, the exit of controlled prices and the correction of public service rates, in addition to the adjustment to new values of private services, are leading to an even bigger loss of Argentines’ income in the first stage of this government,” the consultant assessed.



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