Basic salary will be raised to $ 292 in 2012

The Ministry of Labour Relations set the Ecuadorian base salary at $ 292for 2012. The increase was mandated by the State portfolio as workers and employers failed to reach an agreement.

The actual base salary, $ 264, expires this month and was raised $ 28 (10.6%). However, labor unions demanded an increase of $ 60 while the business association proposed $ 13 increase.

To set the Unified basic salary increase, inflation and productivity were taken into account.

The salary raise takes effect since January 2012.

(MS)