In 2024, Brazil will see a significant change in the minimum wage. This is because the value was readjusted to R$ 1,412, coming into effect from January 1, 2024. This adjustment represents an increase of R$ 92 compared to the previous value of R$ 1,320.
In other words, since the first day of the year, Brazilians have been receiving the adjusted amount, which has made a big difference, especially in monthly expenses and bills. Therefore, see below for more details on the importance of this benefit.
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How important is the minimum wage?
It is important to highlight that the minimum wage plays a crucial role in the social and economic scenario, directly impacting the quality of life, the dignity of workers and economic stability in general.
Furthermore, the minimum wage serves as a fundamental guarantee, ensuring fair compensation for the time and effort dedicated by workers. Another relevant aspect is its role as an instrument of social protection, helping to prevent exploitation and promote decent working conditions.
The existence of a minimum wage reduces economic disparities by raising the standard of living for lower-income workers.
Adjustment in value
The government proposed an increase of 7.7% for 2024, bringing it to R$ 1,421. This increase, representing an increase of R$ 101 compared to the year 2023, was confirmed by the Minister of Planning, Simone Tebet.
Therefore, the adjustment takes into account the new valuation rule, approved by the government, aiming at improving the living conditions of Brazilian workers. This rule provides for adjustments based on the inflation of the previous year added to the positive variation of the GDP of the previous two years.
This increase is of great importance, since it exceeds the inflation rate, preserving the purchasing power of Brazilians. When the increase does not exceed inflation, product prices remain stable, while wages remain stagnant, resulting in a decrease in purchasing power.
In other words, the absence of an increase above inflation implies greater disbursement on the part of Brazilians.
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