Last August 29th, the National Minimum Wage Commission Meeting corresponding to the last period of 2019 was held. After considering different economic indicators such as inflation and growth levels, the Commission decided to maintain the current Minimum Wages approved a year ago.
This measure was endorsed by the business sector, trade unionists and government representatives, in order to reduce operating costs for employers and protect the jobs of Nicaraguan employees.
The Nicaraguan Foundation for Economic and Social Development (Funides, in spanish) warned that an increase in the Minimum Wage would have negative effects on employment, since in the long term it would increase the chances of labor dismissals. Since, downsizing is a usual measure for companies to deal with cost increases.
This is the first time in the last ten years that the Minimum Wages do not increase during the course of an entire calendar year, hence, a new Commission Meeting was convened for January 2020, with the expectation, once economic standards are normalized, to increase the Minimum Wages for the next period.
In order to review the current Minimum Wages, last increased on August 23rd, 2018, you visit the following official website address of the Ministry of Labor by clicking: Here