News and developments
New minimum wage rates
2024, considering that a consensus was not reached in the Minimum Wage Commission, and it is up to the Executive Branch to set the new applicable rates.
It is important to remember that the minimum salary is the lowest amount of money to be paid by the employer to the worker, fixed per unit of time, for the region of activity or profession in question. The monthly salary to be received by each worker will depend on the number of hours per week agreed in the employment contract.
This is not a general wage increase. The increase applies only to those workers who receive the minimum wage or whose current salary is lower than the new minimum wage due to the increase.
In general terms, the new increase corresponds to the following percentages:
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- 5% small companies
- 0% large companies
- 0% banana companies