Results of the study for proposing the increasing amount to the Minimum Wage for 2020 and its repercussions

Abstract

• The Minimum Wage had an historic recuperation in 2019, however, still represents very serious lags that decrease the living quality of the working class.
• For the Minimum Wage to reach the purchasing power of 1976, it should increase 281%; while to level the GDP growth per capita of the neoliberal period, the increase should be 349%.
• For 2020, the Minimum Wage could increase in a nominal range between 24 and 25% to reach an amount of $ 128.60 per day without the inflation exceeding the monetary policy objective (3% +/- 1%).
• It is recommended and of highest priority to continue with a policy to increase the purchasing power of wages in order to reach dignified levels.