On May 5, Resolution No. 4/2020 (the Resolution) of the Argentine Board of Employment, Productivity and Minimum, Vital and Mobile Salary was published in the Official Gazette, increasing Minimum, Vital and Mobile Wages (MVMW) as well as minimum and maximum unemployment benefits.
The Resolution establishes a staggered and progressive increase of the MVMW in seven tranches, from April 2021 to February 2022, as outlined below:
- As of April 1, 2021, the MVMW was set at $23,544 for all employees paid monthly and at $117.72 per hour for employees paid daily.
- As of May 1, 2021, the MVMW was set at $24,408 for all employees paid monthly and $122.04 per hour for employees paid daily.
- As of June 1, 2021, the MVMW will amount to $25,572 for all employees paid monthly and $126.36 per hour for employees paid daily.
- As of July 1, 2021, the MVMW will amount to $25,920 for employees paid monthly and $129.60 per hour for employees paid daily.
- As of September 1, 2021, the MVMW will amount to $27,000 for employees paid monthly and $135 per hour for employees paid daily.
- As of November 1, 2021, the MVMW will amount to $28,080 for employees paid monthly and $140.40 per hour for employees paid daily.
- As of February 1, 2022, the MVMW will amount to $29,160 for employees paid monthly and $145.80 per hour for employees paid daily.
In addition, the Resolution establishes an increase in minimum and maximum unemployment benefits, as follows:
- $6,540 and $10,900, respectively, as of April 1, 2021
- $6,780 and $11,300, respectively, as of May 1, 2021
- $7,020 and $11,700, respectively, effective June 1, 2021
- $7,200 and $12,000, respectively, effective July 1, 2021
- $7,500 and $12,500, respectively, effective September 1, 2021
- $7,800 and $13,000, respectively, effective November 1, 2021
- $8,100 and $13,500, respectively, effective February 1, 2022