MINIMUM WAGE: NEW value for 2023 is revealed; see how much!

2023 has not yet arrived, but the Federal Government already estimates the next year’s minimum wage. The current estimate is that the minimum wage 2023 increase and reach R$1,292, that is, an increase of R$80 in relation to the current national floor of R$1,212.

First of all, it is important to make it clear that in August, a proposal (in the amount of R$1,302) was sent to the National Congress. The new value of the minimum wage is included in the Annual Budget Law (LOA), submitted for consideration.

According to the text of the proposal, the minimum wage value of 2023 account only with the correction related to inflation, based on the National Consumer Price Index (INPC).

However, there was a twist. On September 15, the Ministry of Economy, through the Secretariat of Economic Policy, lowered the official estimate for this year’s National Consumer Price Index (INPC). Now, the rate went from 7.41% to 6.54%.

Thus, according to INPC’s current estimate, the value of the minimum wage should also be lower, in the amount of R$ 1,291.26. Therefore, the amount is R$10.00 lower than the amount sent to the National Congress in August (R$1,302).

The Inter-Union Department of Statistics and Socioeconomic Studies (Dieese) reveals that the minimum wage is a reference for about 56.7 million people across the country, of which 24.2 million are INSS beneficiaries. See below for more information about the new minimum wage value of 2023.

2023 minimum salary without real gain

At first, with the correction of the minimum wage according to the INPC percentage, the Federal Government indicates that it will not give a real increase for Brazilians. In fact, the salary increase is just a replacement for inflation. That means workers just won’t lose purchasing power.

It’s as if the salary increase only served to compensate for the purchasing capacity that Brazilians have. In practice, citizens will not be able to buy what they already bought, but they will not be able to increase their purchasing power any further.

Until 2019, the floor received a real gain, as it was not only adjusted for inflation. At the time, the calculation was based on the GDP of the previous two years and inflation related to the INPC.

Minimum wage for 2023 has impacts of the INSS readjustment and other benefits

The readjustment in 2023 minimum wage not only influence the lives of salaried workers, but also impact the value of benefits granted by the INSS (National Social Security Institute).

Other sectors impacted by the correction of the national minimum are unemployment insurance, PIS/Pasep salary bonus and Continuous Cash Benefit (BPC-Loas).

BPC

I also pay for INSSthe Continuous Cash Benefit (BPC) grants a monthly amount equal to the national minimum to low-income citizens who are disabled or who are over 65 years of age.

Unemployment insurance

Unemployment insurance is a benefit paid to workers dismissed without just cause. The minimum amount available is equivalent to the minimum wage in force, so there is a monetary correction when the floor is readjusted.

The benefit can be paid between 3 to 5 installments, depending on the number of times the citizen has already requested the aid. In addition, the distributed value considers the average of the last three wages received by the worker.

PIS/Pasep salary bonus

Unlike the previous item, the salary bonus PIS/Pasep grants, at most, a benefit in the amount of one minimum wage. Release occurs when the worker performs his activities during the 12 months in the base year.

When the period of work is less than 12 months, the citizen will receive a benefit proportional to the working time. In this case, it is enough to divide the value of the national floor by 12, and consider that each installment corresponds to a month of the year. Then add each one according to the number of months worked.

Evolution of the minimum wage

The current minimum wage, that is, from 2022, is equivalent to R$ 1,212. The value was established based on the INPC calculated in 2021, which totaled 10.02%. The value represents a not very significant evolution of the floor over the years. See below:

  • May 2004: R$ 260.00;
  • May 2005: BRL 300.00;
  • April 2006: BRL 350.00;
  • April 2007: BRL 380.00;
  • March 2008: BRL 415.00;
  • February 2009: BRL 465.00;
  • January 2010: BRL 510.00;
  • January 2011: BRL 545.00;
  • January 2012: BRL 622.00;
  • January 2013: BRL 678.00;
  • January 2014: BRL 724.00;
  • January 2015: BRL 788.00;
  • January 2016: BRL 880.00;
  • January 2017: BRL 937.00;
  • January 2018: BRL 954.00;
  • January 2019: BRL 998.00;
  • January 2020: BRL 1,045.00;
  • January 2021: BRL 1,100.00;
  • January 2022: BRL 1,212.00.

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About Yadunandan Singh

Born in 1992, Yadunandan approaches the world of video games thanks to two sacred monsters like Diablo and above all Sonic, strictly in the Sega Saturn version. Ranging between consoles and PCs, he is particularly fond of platform titles and RPGs, not disdaining all other genres and moving in the constant search for the perfect balance between narration and interactivity.

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