Transformations of the minimum wage in south america: three decades of evolution

Sánchez Pantaleón A.J.; Morante Dávila M.A.; Puscan Visalot J.; Revilla Bueloth M. · Revista Venezolana de Gerencia (2024) · DOI: 10.52080/rvgluz.29.e12.2

Resumen

Considering that the minimum vital remuneration is an essential tool to protect workers’ rights, reduce inequality and improve working conditions, this research aimed to analyze the evolution and behavior of the minimum wage in South America between 1990 and 2024, identifying trends, significant variations and determining factors. A design was used non-experimental with a quantitative approach, using documentary analysis and cards registration as data collection techniques. The results indicated that the minimum wage in the region has been deeply influenced by factors such as inflation, gross domestic product (GDP) per capita and unemployment. Inflation tends to decrease the real minimum wage, while a higher GDP per capita contributes to its increase. On the other hand, high unemployment often reduces minimum wages. These findings indicate the importance of implementing stable macroeconomic policies and inclusive growth to improve salary conditions in the region. Countries such as Uruguay and Chile have experienced sustained advances thanks to their economies stable, while Venezuela and Argentina have faced serious challenges derived from hyperinflation, which has eroded purchasing power and exacerbated inequality.

Instituciones: Universidad Nacional Toribio Rodríguez de Mendoza de Amazonas