....shows the minimum wages in the South American countries mentioned in 2008 (we don't have the 2009 data yet, apparently the CEDLA study will be updated in March this year).
Then this chart......
Then this chart......
.... shows the PPP of the same countries (or if you like, the number of dollars you'd need to buy the same amount of stuff in the USA).
I was surprised to see the PPP of Paraguay so high. Venezuela's PPP has just taken a big hit from the deval of course, but I also read that Hugo is hiking said minimum wage by 25% this year which will ease the drop for sure. And yes, Bolivia is a poor country. We knew that. Argentina's low wage bracket does relatively well even under its high inflation scenario. We knew that, too.
It's nice to be back, by the way. Nice vacation and batteries replenished. According to that nice mister google I have 3,294 mails, so that'll keep me occupied for a while
I was surprised to see the PPP of Paraguay so high. Venezuela's PPP has just taken a big hit from the deval of course, but I also read that Hugo is hiking said minimum wage by 25% this year which will ease the drop for sure. And yes, Bolivia is a poor country. We knew that. Argentina's low wage bracket does relatively well even under its high inflation scenario. We knew that, too.
It's nice to be back, by the way. Nice vacation and batteries replenished. According to that nice mister google I have 3,294 mails, so that'll keep me occupied for a while