Definition of the new minimum wage in Peru creates expectations for October.

Next October could mark an important milestone for Peruvian workers, as it will be determined whether a new increase in the minimum wage will be implemented, generating expectations and debates throughout the country. In this context, the Minister of Labor and Employment Promotion, Daniel Maurate, has shared various details about the process being carried out to address this highly relevant issue for the population. During the presidential speech on July 28, President Dina Boluarte mentioned that an increase in the minimum vital remuneration (RMV) should be finalized in the last quarter of this year. This statement was met with relief by many Peruvians, who have been waiting for a wage adjustment that would allow them to better cope with the cost of living, especially in an environment of inflation and economic pressure. On August 12, the National Labor Council met to begin discussions on the increase in the minimum wage. On that occasion, it was highlighted that a specific group within the council would be responsible for presenting a proposal for an increase for evaluation in the next session, scheduled for September. Maurate emphasized that the establishment of this dialogue table is crucial to reaching an agreement that benefits both workers and employers. This issue is significant, as a proposal has been made in Congress to modify the RMV, raising it to S/ 1,545, which represents a substantial increase from the current wage of S/ 1,025. Although this proposal has generated enthusiasm among some sectors, Minister Maurate was clear that an increase of this magnitude would require consensus among the involved parties and could not be decided unilaterally. In his statements, Maurate also warned about the possible repercussions of a sudden increase in the minimum wage. According to him, this could exacerbate labor informality in the country, a problem that already affects a large number of workers. He insisted that any decision must be made with thorough technical analysis and should not respond to momentary political interests. The Minister of Economy and Finance, José Arista, added that the debate on a minimum wage increase would open once certain economic indicators, such as Gross Domestic Product (GDP), improve. Arista emphasized that, for the moment, it is not the right time to discuss a wage increase, suggesting that a more robust economy would facilitate dialogue. At the beginning of 2024, Maurate reaffirmed that the increase is part of a presidential promise, highlighting that the current outlook is more favorable compared to the previous year, which was marked by an economic recession. However, the impacts of climatic phenomena such as El Niño and social protests that have affected the political and economic climate of the country are acknowledged. The importance of this increase becomes even more evident in a context where inflation has eroded citizens' purchasing power. The Ombudsman, Josué Gutiérrez, also expressed his concern, stating that the wage increase would be crucial to ensure that workers can meet their basic needs. The process to define the new minimum wage is framed in a context of social and economic tensions. Maurate concluded that the goal of the increase should not only be to improve wage conditions but also to address labor informality and unemployment, avoiding letting the decision be influenced by political motivations. Finally, while changes are on the horizon, the future of the minimum wage in Peru will depend on the decisions made in the coming weeks. With the economy showing signs of recovery, attention is focused on whether these projections will materialize into concrete benefits for workers, who hope their efforts will be recognized and that they will receive fair compensation for their labor.