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Peru increases minimum wage
By Manuel Vigo
May 17, 2012
On Thursday the Peruvian government published an official supreme decree, announcing an increase to the country’s minimum wage.
The supreme decree calls for a 75 soles increase to the minimum wage, brining the new minimum up to 750 soles a month, El Comercio reported.
The government said the measure would go into effect on June 1, 2012.
According to the Ministry of Labor, the minimum wage increase will directly benefit about 25 thousand people in the public sector, and 605 thousand people in the private sector.
The increase is the second raise to the country’s minimum wage since President Ollanta Humala took office last year.
Prime Minister Oscar Valdes had previously said an increase to the minimum wage would be implemented sometime before July.
Humala announced his plans to increase the minimum wage during his inauguration speech on July 28 last year.
The government increased the minimum wage by 75 soles last August, to 675 soles a month.
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Total coments: 2
Commented By: Dennis
On: May 18, 2012. 10:48 am
Congratulations on the 11% raise. With the raise the poor get poorer because when employers cost increase whether for raw materials, salaries, etc they just increase their products and services even more. The dollar or soles will now purchase less.I guess with the anticipation of the minimum wage increase A favorite coffee shop meeting place on Larco raised the price of their cafe Americano from 5 soles to 6.5 soles. Which is a 30% increase, and not to mention the other menu items. Why not make coffee 5.5. It doesn't seem like much but take into the account everything will increase by 30% and that is why the wage increase doesn't mean a thing
Commented By: Snowbird Gringo
On: May 20, 2012. 10:47 am
I agree with Dennis...its a loose-loose situation. Employers...just pay your employees fairly for work they do...keep your prices of goods and services fair...and you will sell MORE...cause buyers will not feel that they are getting ripped-off.
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