Minimum salary in Peru: these are the criteria proposed by the Ministry of Labor to raise the RMV

Minimum salary in Peru: these are the criteria proposed by the Ministry of Labor to raise the RMV
Proposal will regulate when, how much and how adjustments to the minimum living wage will be made.
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The Minister of Labor suggested that the increase in the minimum wage be discussed technically.
The Minister of Labor suggested that the increase in the minimum wage be discussed technically.
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Indicators that would be taken into account for the formula for updating the minimum wage.
Indicators that would be taken into account for the formula for updating the minimum wage.
  • If the mechanism had been in force at the beginning of 2022 (in March), it would have operated as follows: Total effective inflation for 2021 would have been used, equivalent to 6.99%, as well as the percentage variation of average labor productivity for 2021, which was -1.2%.
Minimum wage in Peru: the criteria proposed by the Ministry of Labor to raise the RMV|Andina
Minimum wage in Peru: the criteria proposed by the Ministry of Labor to raise the RMV|Andina
The increase in the minimum remuneration must be approved in the first fortnight of May of each year, according to the proposal.
The increase in the minimum remuneration must be approved in the first fortnight of May of each year, according to the proposal.
  • Recession
  • sharp rise in rate unemployment in the urban area
  • sharp rise in rate informality labor
  • Unmeasured increase in the minimum remuneration ratio over the private sector average salary national formal.

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