Argentina sets September minimum wage at $383,800

The Argentine government has officially set the minimum wage (SMVM) for September at $383,800 for full-time monthly workers. This represents a 1.91% increase from the August rate of $376,600.

The new floor covers less than 24% of the Total Basic Basket (CBT) for a family of four, which reached $1,605,497 in August according to INDEC. Hourly wages for daily workers have been set at $1,919.

The update was determined via arbitration by the National Council of Employment, Productivity and Minimum Wage after unions and business representatives failed to reach a consensus during meetings in late August. Labor unions had requested significantly higher amounts, while the business sector proposed a smaller initial increase.