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Find out the potential value of the minimum wage in 2023

Find out the potential value of the minimum wage in 2023

Brazilian workers are eagerly awaiting the announcement of an amendment less paywhich is held in January every year. By law, the government must update the national floor according to the inflation recorded in the previous year.

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There is no rule that guarantees real gains for Brazilians, that is, it guarantees a minimum correction above inflation🇧🇷 However, this should happen from 2023.

Actual increase in 2023

President-elect Luiz Inacio Lula da Silva (Workers’ Party) has as one of his campaign promises to introduce a real increase in the minimum wage, which serves as a reference for the rewards of millions of workers and policyholders in INSS (National Institute of Social Security). For this to happen, his team is negotiating a Proposal to Amend the Constitution (PEC).

The document removes all Brazilian aid expenditures from the spending cap, opening room for R$105 billion in the 2023 budget. Real.

The idea is to resume a valuation policy that takes into account the previous five years’ gross domestic product (GDP) in calculating the value. According to Senator-elect and member of Lula’s team, Wellington Dias (Labor Party), the proposal is to grant a real increase of up to 1.4% next year.

If that happens, it will be the minimum wage From 1212 BRL to 1320 BRL in 2023. Dias also confirmed that the correction above inflation will continue from 2024 onwards.

ideal minimum wage

According to the Inter-Union Department of Statistics and Socio-Economic Studies (Dieese), the ideal minimum wage Brazilians are far from the current value. According to the foundation, the amount requested in October will be R$6,458.86, more than five times the current amount.

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The amount is enough to meet the monthly needs of food, housing, health, education, clothing, hygiene, transportation, entertainment, and social security for a family of four.