October 5, 2022

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Will the minimum wage be revised? The new value forecast is out today, check it out

Many Brazilians today depend solely on the value of the minimum wage. From CLT employees to INSS pensioners, this number makes a difference to millions of Brazilians.

That’s why, stay tuned for news related to minimum wage reform. Understand all the details and find out why the forecast of new values ​​has changed again in the last few days.

Find out how the new minimum wage forecast for 2023 turned out (credit: @jeanedeoliveirafotografia / pronatec.pro.br)

Minimum wage forecast in 2023

First, it’s important to remember that there has been an increase in movement and discussion about this in the past week Minimum wage forecast in 2023.

This happened mainly after the Central Government released the Budget Guidelines Act for the next year. That is, this document provides information about the official expenses for the upcoming semesters.

As expected, the Minimum wage in 2023 Never again had a real victory. That is, the increase will be only to “cover” inflation – this is provided by law.

See also: The new minimum wage also affects other benefits; Check the values

A new minimum wage hike

However, the problem is that the Economic Policy Secretariat of the Ministry of Economy issued a statement. New Minimum Wage Reform Forecast.

That is, the preliminary forecast for the Index of National Consumer Prices (INPC) in 2022 is 7.41%. Knowing that the minimum wage depends on this indicator, it will be an increase.

However, the new figures from the Secretariat suggest a new forecast of 6.54%. That means, adjusted for inflation, the forecast is even lower.

If the percentage of 6.54% is confirmed, the 2023 minimum wage value BRL will be 1,292Following the latest update from Ministry of Citizenship.

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2023 Minimum Wage Confirmed?

Finally, it’s important to remember what many experts are saying right now.

It is not yet possible to “spike” the value of the minimum wage next year, as inflation may still fluctuate. In other words, more than 6% of the forecast can still change, and with it, the value of the minimum wage will change.

Note that in the last four years, the central government has only managed to recover the value of inflation. That is, there has been no real increase in the value of the minimum wage.

The expectation is that this will happen again and that the increase will not exceed R$ 100. This means that next year forecasts will be higher between R$ 80 and R$ 90.

Minimum wage for Brazilians

First, it is worth emphasizing what determines the current minimum wage. For the quotation of best value, the central government aims to calculate inflation-related values. That is, a salary relative to the price fixed for the basic survival of a family/individual. For this survival, factors like food, hygiene, clothing are considered.

Therefore, many experts have already reported the fact that the amount provided is not equal to the best support of a family. According to the Inter-Union Department of Statistics and Socioeconomic Studies (DIEESE), the ideal minimum wage for Brazilians is R$6,388.55.

To make this calculation, the department took into account the cost of food in the basic basket and the cost of the most basic necessities like electricity and education calculations. Therefore, according to published information, current salaries cannot support any Brazilian family.

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10 Highest Minimum Wages in the World

10th Ireland

First, in tenth place, is Ireland. The country pays EUR $10.50 per hour. This is equivalent to R$50.00 in Brazilian currency. Additionally, the country has enormous advantages for those who need to work and study at the same time.

9th. Canada

In Canada, the minimum wage may vary by province of residence. Therefore, the average wage varies from CAD$13.00 to CAD$15.00 per hour. The minimum value corresponds to the Brazilian real of 51.41.

8th. UK

The United Kingdom is one of the most welcoming places in the world for exchange students and visitors. However, even though the cost of tourism is high, residents receive better salaries. This is because an hourly average is paid at £9.20 per hour, which corresponds to R$55.10.

7th Belgium

Belgium is also one of the tourist-centric destinations. Hence, the remuneration for its workers is also somewhat satisfactory. Currently, a citizen receives over €10.00 per hour, which may vary. As in the previous examples, the receipt is approximately +R$50.00.

6th. Netherlands

In general, people who don’t know the Netherlands want to know, and those who already know, are proud to point out the fact. Among the advantages of the country is payment. per hour, the value is €10.22 per hour. That is over R$53.00.

5th. New Zealand

Many people are surprised to learn about the values ​​acquired by the hardworking citizens of New Zealand. Currently, considering the hourly rate, the salary is NZD$20.00 per hour, the same as R$62.72.

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4th. Germany

Germany also follows the payment system of other countries. That means about +R$50.00 per hour worked. This amount is equivalent to €10.00 per hour.

3rd. France

The minimum wage is currently €10.00, however, the price of most items is somewhat affordable. It further values ​​the currency and salary received.

2nd. Luxembourg

In advance, the country pays around €13.40 an hour. Considering that one euro is worth R$5.25 in Brazilian real, the salary is very favorable.

1st Australia

First on the list is Australia. In the country, the minimum wage, based on value/hour, is AUS$20.33. That is, 71.59 rice. However, it is worth mentioning that the country offers the highest cost of living in the world.

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