08182017Headline:
5 Green Reasons Costa Rica Is the Poster Child of the Environment 4 years ago
Have You Tried Guanacaste’s Fastest Growing Sport? 4 years ago
Was Your Costa Rican Bank Account Closed? 4 years ago
Latin America Investment News on Viva Tropical

Honduras Minimum Wage in Top Three

Article Summary:

Honduran workers benefit from one of the highest minimum wages in Central America, taking them to third highest amount. Their status is only out ranked by that of Panama and Costa Rica.

Photo Credit: La Tribuna

Original Article Text From La Tribuna via Google Translate :

Honduras is the Third Country in the Region with Higher Salary

Honduras is the third Central American country with the highest minimum wage in the first place is Panama and Costa Rica second, according to data provided in the Ministry of Labour and Social Security (STSS).
The minimum wage is legally established compensation for each work period (hour, day or month), employers must pay their employees for their work.

With the new setting in the country, salaries range from 4.600 lempiras in the lowest category represented by the agricultural sector to 7.140 in the financial area , generating an average salary of 5.870 lempiras, about $ 309 higher than in Guatemala, El Salvador and Nicaragua.

Workers in Nicaragua earn 135.40 per month on average and equal to Honduras would have to spend 20 years, estimated the representative of the Honduran Council of Private Enterprise (COHEP), Benjamin Bogran.

The basic food basket at the end of 2011, has been growing with variations in the acceleration of the cost in the region, but has the highest value Honduras and El Salvador appears with the lowest, followed by Nicaragua, Costa Rica and Guatemala.

Since the validity of the Minimum Wage Act, to date have been enacted in Honduras 28 bindings new wage scales, two in the seventies, eighties amount equal to ten in the nineties and 14 from 2000 to 2012.

Also transcends that 12 have been by way of tripartite consultation, workers, employers and government, 16 directly by the executive branch, the last seven in a row in this way.

Given that the latter were directly bindings for the Executive, urged the Economic and Social Council (CES), a new mechanism from 2012 in the framework of the Minimum Wage Act.

Thus, on August 17 last, adopted the new mechanism that served as input for review and establishment in 2012, incorporating economic parameters are defined as inflation and productivity.

This mechanism is based on defending the purchasing power of minimum wage, improving competitiveness and slowdown in prices.

An employer also must pay wages to its workers, has to bear additional costs called “collateral”, which are binding regulated by laws and regulations. (WH).

Link to Original Article:

From La Tribuna

Latin America Investment News on Viva Tropical