On September 1, the 4.1% rise in the minimum wage for workers in nine of the ten sectors established by law will come into force.
The 4.125% increase is part of the 8.25% adjustment approved jointly by the private sector, government and unions in February, agreed that the adjustment would be made in two parts, at the beginning of each semester.
Elnuevodiario.com.ni reports that “…The tenth sector covered by this Law is the industry subject to the free zone regime, but this is negotiated individually and its increases are over longer periods and it will be applied at the beginning of each year.
The new salaries for the nine sectors that will have adjustments:
- 3,773.82 cordobas a month – minimum wage for the agricultural sector.
- 5,738.20 córdobas a month – minimum wage in the fishing sector.
- 6,777.61 cordobas a month – salary for workers in the mines and quarries sector.
- 5,074.31 cordobas a month – minimum wage in the manufacturing industry.
- 4,054.76 cordobas a month – salary for workers in the micro and small craft industry of production and tourism.
- 6,921.93 cordobas a month – salary in electricity, water, commerce, restaurants, hotels, transport, storage and communications sectors.
- 8,445.44 cordobas a month – minimum wage in construction and financial establishments.
- 5,290.48 cordobas a month – salary for communal social and personal services.
- 4,706.12 córdobas a month – minimum wage in the central government.
The above minimum wage take effect on September 1, 2017 and will be effective until February 28, 2018.
The current exchange rate is 30.26 cordobas to one U.S. dollar.