Ecuador: Minimum Wage increases 4.1 Percent

Posted on January 7, 2015 • Filed under: Business, Economy, Ecuador

telesurtv.netThe minimum wage is increasing for 2015 by 4.1 percent, moving up to US$340. This makes it one of the highest in Latin America. As part of a larger state effort to expand workers rights, Ecuador’s minimum wage has risen by 4 percent for 2015. In 2014 the minimum wage was US$340 and increased to $354 as of Jan. 1.

Edison Romo, the general manager of the Quito-based Macafri Meat company, said that this increase is seeking to help workers meet their basic needs. “There are some parameters that have to be used to measure this situation. Of the basic basket of goods. I understand that they are covering this. And the government has to compensate a little for the inflation that our country has had, which anyways is low, and I think we are, I repeat, compensating for this,” said Romo Read Article


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