Has the Minimum Wage In DR changed in Real Terms for the passed 100 Years

pinonuevo

Active member
Dec 7, 2020
143
36
28
Roman
My father used to earn 250.00 Pesos pe month when the Dollar was One:One. By today's exchange that would be 15,000.00

On December 7, 2021, the National Salary Committee, announced the approval of a 21% adjustment to the minimum salary for employees of the free zone sector in Dominican Republic. The new minimum wage will be RD$13,915.00, effective January 1, 2022.

The fixed rates will be calculated by working hours, dividing the monthly salary by 23.83 and the result of this operation dividing it by 8, for workers who render part-time services in industrial, commercial, or service companies.

Part-time work is defined as rendering services for a period not exceeding 29 hours per week, but in no case may work more than this limit or render services in extra working hours.

Employees earning below the new minimum shall receive the increase. Employees earning above the new mínimum wage earn of RD$13,915.00 shall continue to receive the same salary, although such salary may be improved by agreement between the parties.
 

pinonuevo

Active member
Dec 7, 2020
143
36
28
Roman
 

NALs

Polls Forum Moderator
Jan 20, 2003
11,044
1,657
113
Swizterland has no minimum wage. The reason wages are higher there than in most of the world is quite simple to explain: very few people in any economy actually earn below, at or near a minimum wage, regardless what that is. In a country like the DR, things like the minimum wages are simply political tools to create political opinions and perception and that will impact how many votes they get in the next election. Minimum wages simply don't matter in creating wage levels.
 

bob saunders

Platinum
Jan 1, 2002
30,578
4,004
113
dr1.com
Swizterland has no minimum wage. The reason wages are higher there than in most of the world is quite simple to explain: very few people in any economy actually earn below, at or near a minimum wage, regardless what that is. In a country like the DR, things like the minimum wages are simply political tools to create political opinions and perception and that will impact how many votes they get in the next election. Minimum wages simply don't matter in creating wage levels.
This, of course is quite true, but those that like far reaching government control disagree.
 
Jan 9, 2004
10,251
1,432
113
Swizterland has no minimum wage. The reason wages are higher there than in most of the world is quite simple to explain: very few people in any economy actually earn below, at or near a minimum wage, regardless what that is.
Explain why wages are higher there than in most of the world?

Is it better educated, better skill sets, government pressure, union pressure.
In a country like the DR, things like the minimum wages are simply political tools to create political opinions and perception and that will impact how many votes they get in the next election. Minimum wages simply don't matter in creating wage levels.

Political tools? To some extent perhaps.................but imagine if no minimum wages existed in the DR. The possibilities are endless................for the percentage of the people receiving sugar cane wages...........can you say social unrest three times fast.


Respectfully,
Playacaribe2