Minimum wage increased for 2022

IMPACT – MEDIUM

The Peruvian government has increased the national minimum wage for 2022.

Key Points:

• Peru’s gross monthly minimum wage increased from 930 PEN per month to 1,025 PEN (about $271) per month.
• The new minimum wage took effect on May 1, 2022.
• Sponsoring employers must meet the minimum wage requirements as of May 1, 2022.

BAL Analysis: Employers may see a slight increase in labor costs and should take the new wage minimums into account when planning their budgets

This alert has been provided by the BAL Global Practice group. For additional information, please contact berryapplemanleiden@bal.com.

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