Home » The Government convened the Salary Council to define a new increase: when will it be

The Government convened the Salary Council to define a new increase: when will it be

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The Government convened the Salary Council to define a new increase: when will it be

The National Government convened the National Council of Employment, Productivity and the Minimum, Vital and Mobile Wage for the next one Tuesday April 30in search of define a new update of the basic salary.

The Resolution 6/2024signed by the Minister of Human Capital, Sandra Pettovelloand published in the Official Gazette this Wednesday, made the measure official. It will be the second call of the management of Javier Milei.

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The scheduled in advance of International Workers’ Day will have the objective of fix the increase in the SMVyM for May and cut some of the loss of purchasing power against inflation that has been happening in recent months.

The last meeting between unions, employers, the National Government and provincial governments It took place in February, after several postponements. On that occasion, an agreement was not reached by the Executive decided to establish a 30% increase in the minimum wage in two sections (February and March).

So, Starting salary went from $156,000 to $180,000 in February for monthly workers, whileIn March it reached $202,800. For daily employeesthe value per hour increased from $780 to $900 in the second month of the year and to $1,014 in the third.

The 30% increase in the first quarter had a loss of 15.8% compared to inflation for the periodwhich reached 51,6%. This drop in purchasing power will worsen in April, since the salary adjustment will not be retroactivebut will be applied from May.

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This salary deterioration in the first months of 2024 It is added to that observed in 2023, when the minimum wage increased by 151.8% compared to an inflation of 211.4%, which meant a loss of 19%.

In the context of these tensions and in the midst of joint negotiations, which have exacerbated the discrepancies between the unions and the Government regarding the approval of the increases, A challenging Salary Council meeting is anticipated for all parties involved.

This next session It will be a continuation of the last one, in which the positions were very distant: while the unions requested an increase of 85%businessmen They simply rejected the proposal without offering alternativeswhich led the Government to make a final decision in this regard.

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What is the Salary Council and what does the modification of the SMVyM affect?

It should be noted that the National Council of Employment, Productivity and the Minimum, Vital and Mobile Wage It is a permanent institutional sphere of dialogue between representatives of workers, employers, the National State and the Federal Labor Council (provincial governments) to evaluate issues related to labor relations such as, among others, the amount for the salary floor.

In turn, a new amount of the SMVyM Not only does it influence the income of workers, but it also affects the floor of retirement benefits and the value of unemployment insurance. In turn, it acts as an ordering variable for the calculation of social programs and Income Taxin full discussion as part of the debate on the Bases Law.

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