Chile: further gradual increase in minimum wage

Publication

6 June 2023 à 09h44

Reading time

2 minutes

Publication: 6 June 2023 à 09h44

Reading time: 2 minutes

In a bid to keep up with inflation, Chile’s parliament has adopted legislation for the minimum wage to rise +22% by 01 July 2024. The increase will be applied progressively and retroactively and is to be complemented by support for SMEs.

An article by Flora Genoux

Publication

6 June 2023 à 09h44

Reading time

2 minutes

Publication: 6 June 2023 à 09h44

Reading time: 2 minutes

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On 29 May Chile’s Parliament definitively approved legislation providing for a further increase in the minimum wage. The minimum level of monthly pay will gradually rise starting with a move from 410,000 pesos (€474) up to 440,000 (€510) for May 2023 (applied and paid retroactively). Then in September 2023 the level will rise to 460,000 pesos (€533), and in July 2024 there will be a further increase to 500,000 pesos (€578 euros). Government estimates are that 941,000 families will benefit...

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Flora Genoux Freelance

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