According to a study by cashback platform Picodi, Uruguay has the highest minimum wage in Latin America, at US$424.
The Minister of Labor and Social Security (MTySS), Pablo Mieres, seized the report and declared on his social networks, “Another proof of our exemplary social situation. Let’s keep it up.”
The company conducted the study, examining recent wage increases in 67 countries worldwide, and found that Luxembourg has the best indicators.
The European country has a minimum wage of US$2,140, followed by Australia with US$2,022.
In Latin America, the ranking is topped by Uruguay, followed by Ecuador with US$407 and Chile with US$369.
The list continues with Argentina (US$336), Paraguay (US$323), and Mexico (US$315).
On the other hand, the countries in the region with the lowest minimum wages are Bolivia (US$284), Colombia (US$249), Peru ($233), and Brazil (US$232).
The percentage increase compared to the previous year shows Argentina has the highest figures, at 100%, due to the high annual inflation of almost 103% recorded by the country, according to its latest data.
The situation is similar in Turkey, where minimum wages have increased 104.5% in the last 12 months.
In the region, Mexico is the country with the second highest increase in minimum wages at 17.1%, followed by Chile at 16.9%, Colombia at 16%, Paraguay at 11.4%, Peru at 10%, Uruguay at 8.9%, Brazil at 8.5%, Ecuador at 5.6% and Bolivia at 3.9%.