Peru to increase minimum
wage for private company
staff
The minimum wage for
private company staff
will be increased to 530
new soles (169.6 U.S.
dollars) per month as
from Oct. 1, the
Peruvian government
announced on Saturday.
The government decided
to increase the minimum
wage from the current
500 soles (160 dollars)
due to the country's
changes of price index
and productivity, the
Ministry of Labor said.
The ministry also said
the measure will help
restore consumption
capabilities of the
country's broad labor
people.
The minimum wage will be
further raised to 550
soles (176 dollars) from
Jan. 1, 2008, according
to a decree signed
jointly by Peru's
president, prime
minister, minister of
labor and minister of
economy.
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