The wages media of the private sector, Measured in dollars and adjusted for export prices, they are at their highest level in the last 24 years, according to a survey by the Catholic University of Uruguay (UCU).
Growth in the income It is notable in recent months and, compared to the data for June, they are 73% above the historical average for the period from 2000 to 2023.
The UCU has replaced the indicator in the last 24 years, with its biggest drop during the crisis at the beginning of the century, when the wages succumbed in relation to the dollar, which had a notable jump in 2002 (see graph).
Below, a sustained growth of the indicator can be seen, as a result of a better performance of wages in dollars than of wages in real terms. export pricesalthough some grew in the context of commodity appreciation.
Closer in time, after a brief setback during the Covid-19 pandemic, A marked increase was observed, leading wages to their highest levels.
From the UCU observatory headed by the economist Javier from Haedo They indicated that the increase in wages in dollars in excess of the increase in export prices shows the increased cost of the value-added process in our country.
The minimum wage in Uruguay compared to the region
If we analyze the level of the minimum wage in dollars, Uruguay It is among the best in its class at the regional level, with $556 per month, surpassed only by Costa Rica, where that sum reaches 675 dollars, while below and completing the podium appears Chili, with $532, according to a report by Statista.
Much further back in the ranking are Ecuador ($460), Guatemala (421), Mexico (416), Paraguay (372), El Salvador (365), Bolivia (362), Honduras (347), Panama (341) and Colombia (323).
At the bottom of the table are Peru, with 270 dollars, Brazil (260), Dominican Republic (241), Argentina (163) and Venezuela (3.56).
Source: Ambito
