By Eliane Portillo

The minimum wage (MW) in Uruguay will increase by eight percent as of January 1, 2012, announced the Ministry of Labor and Social Security (MTSS) in a statement on its website.

That way, lower wages will go from 6,000 pesos (the national currency) to 7,200, which is equivalent to about $ 365 (USD), depending on current exchange rates.

The MTSS statement reported that it is the second largest increase in the current term (2005-2010), and stressed its commitment to economic growth to reach all people in this country.

The Ministry said that the increase is in line with the results of the fourth round of negotiations in the Wages Councils, which represents a strong impact on the rise in lower wages.