The Costa Rican Wage Council has approved a 2.37% increase in the minimum monthly wage, bringing it to nearly $700.
This adjustment, which solidifies Costa Rica’s position as the country with the highest minimum wage in Central America, will take effect on January 1, 2025.
Minimum wage is fundamental right in Costa Rica and is updated annually. In 2022, a 6.62% increase was implemented, followed by a 1.83% adjustment this year.
The latest increment aims to continue supporting workers amidst economic challenges while ensuring alignment with inflation and cost-of-living adjustments.
The country’s Labor Ministry emphasized that compliance with the new wage standards is mandatory for all private-sector employers.
Workers are encouraged to report any discrepancies in their January salaries directly to the National Wage Council. Companies found violating minimum wage laws face substantial fines.
Costa Rica’s labor standards contrast sharply with those of neighboring Nicaragua, where the minimum monthly wage remains the lowest in the region at just $213.
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Publish date : 2024-12-18 04:06:00
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