Post by account_disabled on Mar 9, 2024 3:39:40 GMT
The International Monetary Fund (IMF) once again cut its growth forecasts for Latin America - to 0.2% this year, and to 1.8% in 2020, five tenths less - due to the slowdown in Mexico and Brazil, and the worsening of the crisis in Argentina and Venezuela. This is revealed by the recently released Global Economic Outlook report.
This report reveals that in Latin America activity slowed noticeably at the beginning of the year in the largest economies.
Growth in the region of 0.2% is expected this year,” according to the text. Projections for the region place it below the average of the world economy, which according to the organization, will grow 3% in 2019 and 3.4% in 2020.
According to the economic media DW , "this Chile Mobile Number List downward revision for 2019 is basically due to the evolution of Brazil", where interruptions in mining supply weighed down the country's activity in the first half of the year, and Mexico, where the Investment remains weak and private consumption has slowed due to policy uncertainty, weakening confidence and rising borrowing costs.
Despite this panorama, we can highlight the best salaries in Latin America.
Better salaries in LATAM
In Venezuela, the minimum wage increased again in October , as announced by the Government, and remained at 300 thousand bolivars per month, which is equivalent to about 16 dollars. This is the third salary increase so far this year in the country facing high inflation.
Venezuela has the lowest salary in the region. Nicaragua precedes it (for the agricultural sector) with 129 dollars per month.
On the other side of the spectrum is Chile with the highest minimum wage in the region ($423), followed by Uruguay ($416) and Ecuador ($394).
Mexico has the lowest salaries
The minimum wage in Mexico is the lowest in Latin America. It is below countries such as Haiti, Guatemala, El Salvador, Honduras and the Dominican Republic, among many more.
In addition to this negative indicator in the country, there is also the rate of labor informality, which is one of the highest in the region.
For this reason, there are two urgent measures to prevent Mexican workers from continuing to work under negative salary conditions: that the federal government approve an increase of 30 pesos to the minimum wage, and stop illegal outsourcing practices that include new company inspection measures; specialists agreed during a dialogue organized by the Decent Work Observatory.
Previously, Mexico averaged the standings, taking into account the Human Development Index of the United Nations Development Program (UNDP), in the “Minimum wage deficit” analysis that reflects the best minimum wages in Latin America.
The minimum wage in Mexico is in the last places in the region of Gross Domestic Product (GDP) per capita, and its level with respect to the poverty line and degree of compliance with the needs of the worker and his family.
This has been determined by the International Labor Organization (ILO) and is the method it uses to evaluate the effectiveness of the minimum wage in countries.
The average minimum wage for the region was 262.6 dollars in 2011, in Mexico it stood at 121.5 dollars, ranking as the third country with the lowest average minimum wage in the region, only below Bolivia and Nicaragua.
In 2000, the minimum wage in Latin America was 123.3 dollars and in Mexico it was 96.6 dollars, so eleven years ago it was the seventh country in the area with the lowest minimum wage.
In the period 2000-2011, the minimum wage in Mexico increased by 24.9 dollars and in all of Latin America by 139.4 dollars. In that decade, the country was surpassed by Honduras, Brazil, Ecuador and Uruguay.
This report reveals that in Latin America activity slowed noticeably at the beginning of the year in the largest economies.
Growth in the region of 0.2% is expected this year,” according to the text. Projections for the region place it below the average of the world economy, which according to the organization, will grow 3% in 2019 and 3.4% in 2020.
According to the economic media DW , "this Chile Mobile Number List downward revision for 2019 is basically due to the evolution of Brazil", where interruptions in mining supply weighed down the country's activity in the first half of the year, and Mexico, where the Investment remains weak and private consumption has slowed due to policy uncertainty, weakening confidence and rising borrowing costs.
Despite this panorama, we can highlight the best salaries in Latin America.
Better salaries in LATAM
In Venezuela, the minimum wage increased again in October , as announced by the Government, and remained at 300 thousand bolivars per month, which is equivalent to about 16 dollars. This is the third salary increase so far this year in the country facing high inflation.
Venezuela has the lowest salary in the region. Nicaragua precedes it (for the agricultural sector) with 129 dollars per month.
On the other side of the spectrum is Chile with the highest minimum wage in the region ($423), followed by Uruguay ($416) and Ecuador ($394).
Mexico has the lowest salaries
The minimum wage in Mexico is the lowest in Latin America. It is below countries such as Haiti, Guatemala, El Salvador, Honduras and the Dominican Republic, among many more.
In addition to this negative indicator in the country, there is also the rate of labor informality, which is one of the highest in the region.
For this reason, there are two urgent measures to prevent Mexican workers from continuing to work under negative salary conditions: that the federal government approve an increase of 30 pesos to the minimum wage, and stop illegal outsourcing practices that include new company inspection measures; specialists agreed during a dialogue organized by the Decent Work Observatory.
Previously, Mexico averaged the standings, taking into account the Human Development Index of the United Nations Development Program (UNDP), in the “Minimum wage deficit” analysis that reflects the best minimum wages in Latin America.
The minimum wage in Mexico is in the last places in the region of Gross Domestic Product (GDP) per capita, and its level with respect to the poverty line and degree of compliance with the needs of the worker and his family.
This has been determined by the International Labor Organization (ILO) and is the method it uses to evaluate the effectiveness of the minimum wage in countries.
The average minimum wage for the region was 262.6 dollars in 2011, in Mexico it stood at 121.5 dollars, ranking as the third country with the lowest average minimum wage in the region, only below Bolivia and Nicaragua.
In 2000, the minimum wage in Latin America was 123.3 dollars and in Mexico it was 96.6 dollars, so eleven years ago it was the seventh country in the area with the lowest minimum wage.
In the period 2000-2011, the minimum wage in Mexico increased by 24.9 dollars and in all of Latin America by 139.4 dollars. In that decade, the country was surpassed by Honduras, Brazil, Ecuador and Uruguay.