MINIMUN WAGE AND EARNINGS
The nominal minimum wage has doubled during the Real Plan.
On the first day of the Real Plan, the minimum wage was scarcely equivalent to 60% of a basic market basket. In contrast, the purchasing power of the minimum wage rose 50% in 1995 reaching a level of 90% of the basic market basket. Today, one minimum wage is enough to purchase a basic market basket with money to spare.
Workers’ average real earnings grew 26% with the implementation of the Real Plan, based on the averages of the pre-Plan and post-Plan periods.