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The Government has already set a date for the new meeting of the Salary Council

The Government has already set a date for the new meeting of the Salary Council

The last meeting of the Council was in November of last year and it had set an SMVM of $61,953 since December 1st. How wages arrive at this negotiation instance.

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The Government convened the Vital and Mobile Minimum Wage Council (SMVM) for next Tuesday, March 21, to discuss the new basic remunerations for all formal workers and whose value also serves to update other adjustment indices, among them those of social plans.

The call was made official through the publication in the Official bulletin of Resolution 1/2023 of Ministry of Labor. The discussion will take place within a framework of accelerating inflation and after knowing the rate of change in prices for February, which would raise the result for the first two months to 12%.

The last meeting of the Board was in November of last year and it had set an SMVM of $61,953 as of December 1, which would go to $65,427 as of January 1, $67,743 as of February 1, and $69,500 in March.

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In this way, between January and April of this year, workers will receive in their pockets (the value from December 1 is charged in January and so on) an improvement of 13%, which is similar to that of inflation in the first two months. .

Thuswhen business chambers and trade union representatives sit down to negotiate, the salary adjustments agreed for four months would already have been surpassed by inflation.

Therefore, it will be necessary to see how the discussion develops at a time when the Ministry of Economy seeks to limit salary adjustments and align them with the adjustments of the order of 4% that were agreed in the price programs encouraged by the Ministry of Trade.

Due to inflation that is already exceeding 100%, Argentina has the second lowest SMVM in the region, only ahead of Venezuela. Measured in dollars, the SMVM in Argentina is around US$185.

Source: Ambito

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