The minimum wage is the basic amount that an employer must pay to a worker for a period of activity defined by law. This remuneration is established by each country based on its labor laws and social norms. A study released by the online discount platform CupomValido.com.br carried out a survey with updated minimum wages in the year 2023. The result surprised many people. Check out!
Brazil ranked 5th worst in Latin America. That's because only four countries have a minimum wage that is lower than Brazil's. They are: Venezuela, Argentina, Dominican Republic and Colombia. The information is official for each country. According to the survey, the value of basic and average remuneration, after considering all countries, was R$1,751. A value higher by 32% in relation to Brazil.
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Costa Rica is the country with the highest minimum wage in Latin America.
The value is more than 2.4x greater than that of Brazil. Costa Rica's economy is mainly based on tourism, agriculture and the technology industry. The country is known for having a stable economy and one of the highest human development rates in the region. Its population is made up of a mix of different ethnic groups, including Europeans, Africans, Indians and Asians.
The country in last place is Venezuela. This is because of its only R$42 paid to workers.
Argentina's economy is one of the largest in Latin America, based on its nominal GDP, but it has faced exciting challenges in recent decades, including external debt and instability economical. In 2022, inflation in the country was more than 300% in the year.
The population is made up of a mix of different ethnic groups, including Europeans, mostly of Spanish and Italian origin, as well as indigenous peoples. Most live in cities.
Buenos Aires is the largest city in the country.
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