Yesterday, President Cristina Fernández de Kirchner announced an increase in the new minimum wage of 25.2%. The hike is to be implemented in two stages: by the 1st August, the minimum salary will reach $3,300 and by January 2014, it is to extend to $3,600 per month.
The decision was convened by the Minimum Wage Council after negotiations between businesses, trade unions, and the Labour Minister. The rise is consistent with the increases obtained in collective wage negotiations.
....Speaking of the minimum salary, Labour Minister Carlos Tomada said “I want to highlight the dialogue between the businessmen and the workers as an example of the compromise of these players. It is very rewarding to arrive at this point.”Rewarding to price Argentinian low-skilled workers out of jobs.