Trade Unions, Government and Private Sector Ratify Increase in Minimum Wage
NSCAG News |
on: Friday, 18 August 2017
Negotiations taking place on minimum wage
A minimum wage increase agreed in February by Nicaragua's tripartite commission, comprising unions, government and the private sector has been ratified and will be implemented from 1st September. The increase amounts during the year to 8.25%.
The National Minimum Wage Commission further agreed to a revision in the second week of January 2018.
The Minister of Labour, Dr. Alba Luz Tórrez Gómez, explained last February that once again the dialogue and consensus between the Government, Employers and Workers has proved effective.
José Adán Aguerri, president of COSEP, representing the private sector said: "This agreement will be above inflation, without sacrificing workers in formal enterprises. This gives us the opportunity to defend employment, to secure investment and be competitive in international markets. "
He noted that this tripartite agreement "reflects a reality in the balance we are looking for and is how to continue to encourage formal employment, and 800,000 workers are now covered by social insurance."
