60% increase in minimum wages in Honduras

Businessmen point to negative effects due to the measure, such as the loss of competitiveness because of cheaper labor in neighboring countries such as El Salvador, Nicaragua and Guatemala.

Monday, January 5, 2009

According to elsalvador.com, "workers who earn 3,400 lempiras (some $170) will now earn 5,500 lempiras (some $300).

Amilcar Bulnes, president of the Honduran Private Businesses Council, lamented that the Honduran Government has raised wages to the same level as Costa Rica, which has a higher income than the rest of countries in Central America, except for Panama.

"We will not be surprised if at some point in time, the Honduras Beer Company or some other industry leaves for El Salvador, since the other countries are competing to attract foreign investment," the business leader warned.



More on this topic

Bad Time to Standardize Salaries

November 2019

Costa Rican businessmen warn that the government's decision to standardize wages in 2020 will lead to more unemployment, affect workers with less education and reduce competitiveness even further.

For the business sector is imprudent to approve and implement the wage standardization in 2020, since it will have a strong impact on productive sectors such as agriculture, trade, transport, tourism and construction, explains a statement from the UCCAEP.

Honduras: A Rise in Minimum Wage Governs

January 2019

From January 1, 2019, the minimum wage increase came into effect, which will be paid in accordance with economic activities and company size in relation to the number of workers.

From the COHEP statement:

The Honduran Council of Private Enterprise (COHEP), with the purpose of informing Honduran companies and society about the Minimum Wage Agreement that will govern the country during 2019 and 2020, announces the following:

Costa Rica: Employers Offer Pay Rise of 3.62%

October 2012

Costa Rican business chambers have proposed to the National Wages Council a 3.62% increase in wages for the first half of 2013.

Elfinancierocr.com reports that "The Costa Rican Union of Chambers and Associations of Private Business Sectors (UCCAEP) proposed to the National Wages Council an increase of 3.62% for the private sector minimum wage to be effective for the first half of 2013. "

Minimum Wages Law to be challenged in Honduras

January 2009

The Private Sector Council of Honduras is recommending to its members that they challenge the executive decree increasing the minimum wage in the Supreme Court.

According to proceso.hn "they also asked President Manuel Zelaya to amend his decision to increase minimum wages to 5,500 lempiras.

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