Which is the country with the worst minimum wage in

Which is the country with the worst minimum wage in Latin America? It's not Argentina or Peru

According to the information available on their website Bloomberg Media It is described as a global and diverse company that excels at providing timely information and in-depth analysis to decision-makers in areas such as economics, finance, technology, environment and politics. In a current project, the website's experts have developed a classification of Latin American countries based on the level of the minimum wage.

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Which is the country with the worst minimum wage in Latin America?

Venezuela In terms of labor income, it is in a worrying situation, as it has the lowest minimum wage in all of Latin America, barely exceeding $3.

Which is the country with the worst minimum wage inThe minimum salaries of the countries of South America and Latin America. Photo: LR/Statista composition

Maduro raised the minimum salary for public servants to $100

Venezuelan President Nicolás Maduro has introduced an increase in the monthly bonus for civil servants from $30 to $60, payable in bolívars according to the official exchange rate. This adjustment increases the “indexed minimum total income” (IMII) from $70 to $100, including an additional $40 bonus. It is important to note that none of these bonuses contribute to employment liabilities.

1708897878 930 Which is the country with the worst minimum wage inVenezuela's minimum wage for civil servants has been increased. Photo: AFP

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Where is the minimum wage in Peru?

Venezuela has the lowest minimum wage in Latin America at just $3.61. In comparison, our country is not in the top 10, being ranked 14th in Latin America and 8th within Latin America South America. This ranking shows that Peru is ahead of Argentina and Venezuela in terms of minimum wage.

This figure highlights the fragile economic situation in the country, which is exacerbated by structural challenges and the influence of exchange rate fluctuations. The economic distance between Venezuela and other Latin American countries highlights the magnitude of the economic obstacles the country faces.

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Which is the country in South America with the best minimum wage?

Uruguay is characterized by a minimum wage of $570, an increase of $20 compared to last year. According to Bloomberg Línea, this performance is the best in South America and the second best in all of Latin America.

In addition to Costa Rica, which occupies first place, and Chile, which occupies third place, Uruguay also stands out for having the best indicators in four essential aspects: the cost of the basic food basket, transport prices, the value of energy and Housing rentals, as detailed by BBC News Mundo.