October 31, 2014
Minimum Wage Council agrees 25% hike
The Minimum Wage Council reached an agreement over a 25 percent hike of the new wage floor minimum for workers after a recess. Businessmen, union leaders and lawmakers came together at the Labour Ministry and agreed on a 2,300 pesos minimum wage.
The new minimum wage, which currently is of 1,840 pesos per month, will be considered with retroactivity to August 1 and will not have scales of implementation, because it will be directly reach the 2,300 pesos.
President Cristina Fernández de Kirchner assured during a press conference at the Labour Ministry that “the leaders have fulfilled the people’s expectations.”
Also the family subsidies reached to 6,200 pesos, although they will continue debating this issue within the next days.
The agreement was signed after six hours of negotiation by leaders from the UIA, the Argentine Chamber of Commerce (CAC), the Argentine Construction Chamber (CAC), the ADEBA banks association, the Argentine Confederation of Medium-Sized Bunsinesses (CAME), the Assembly of Small and Medium-Sized Leaders (APYME), the Argentine Rural Society (SRA), the Small Farmers' Federation (FAA), CONINAGRO and the Argentine Rural Confederations (CRA).
The Minimum Wage Council is made up of 16 representatives from the union side and 16 from the business side.
During the first encounter, the union leaders demanded a 2,600 pesos minimum wage, while businessmen offered one of 2,189, CGT union leader Julio Piumato said.
In spite of the meeting, some businessmen, particularly the UIA Argentine Industrial Union president José Ignacio de Mendiguren, qualified the unions’ demands as “excessive” and “irrational.”