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The Chilean government increased the monthly minimum wage by over 5% on Aug 1.
Key Points:
Additional Information: Authorities estimate that approximately 800,000 full-time workers will benefit from the minimum wage increase.
BAL Analysis: Businesses may see a slight increase in labor costs because of the new minimum wage. Employers should take the new wage minimums into account and adjust their budgets if necessary. BAL will provide updates on salary minimums for foreign workers as information becomes available.
This alert has been provided by the BAL Global Practice group. For additional information, please contact berryapplemanleiden@bal.com.
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