Nicaragua: Minimum Wage Increases 2.6

In a context of a sharp drop in economic activity, the government decided to increase the minimum wage by 2.63% as of 1 March.

Friday, February 7, 2020

The increase, which was agreed by the Ministry of Labor and which will affect ten economic activities, was endorsed by the authorities on 6 February. Workers in free zones will be the only ones not to be subject to this increase, since wages in this sector were raised at the beginning of the year. reviews that "... The adjustment will be applied at once and not as in previous years when it was distributed over two semesters. That is to say that this year there will be no changes in September as was customary in previous years."

The article adds that "... The Minimum Wage Law establishes that the indicators to be taken into account when setting the wage variation are inflation and economic growth."

This year the working table took into account an inflationary rhythm of 6.1%, which was reported at the end of 2019 and in the case of economic growth the variation of the GDP estimated by the Central Bank was -3.5%.

Do you need to follow up on the main economic indicators? Contact Us.

this site is protected by reCAPTCHA and Google's privacy policy and terms of service.
Need assistance? Contact us
(506) 4001-6423

More on this topic

Human Resources: New Reality, New Needs

August 2020

Focusing the skills of employees according to new opportunities and approving laws that allow for more flexible labor agreements are some of the proposals being discussed in Guatemala for companies to face the new labor reality.

Following the economic crisis that caused the outbreak of covid-19, the recovery and generation of jobs is one of the issues that occupies much of the attention of the government in Guatemala.

Labor Market: Revolution and Challenges

July 2020

Faced with the sudden change that the new normal generated in companies, employees are challenged to increase their skills to work remotely, adapt to more flexible contracts and refine their technological skills and cognitive qualities.

Telecommuting has become an everyday occurrence among companies in the region, which have had to adjust to the restrictions imposed by governments due to the outbreak of covid-19.

Suspension of Contracts: Further Extension

June 2020

In Panama, the Ministry of Labor has again extended for 30 days the provision that allows companies in the country to suspend the contracts of their employees.

By Executive Decree No.97 of May 29, 2020 and in the scenario of the crisis caused by covid-19, the temporary suspension of the effects of labor contracts is extended for the second time.

The Labor Market in Guatemala

February 2012

Cacif, leader of the Guatemalan private sector, has presented a report entitled "Trends in the labor market in the last thirty years"

The report by the Coordinating Committee of Agricultural, Commercial, Industrial and Financial Associations (Cacif) states:

Guatemala's economic structure has been under constant pressure in recent decades.

 close (x)

Receive more news about Wages

Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.

Type in your e-mail address:

* Al suscribirse, estará aceptando los terminos y condiciones

Stock Indexes

(Apr 6)
Dow Jones
S&P 500


(Sep 23)
Brent Crude Oil
Coffee "C"