Half of Chilean Workers Earn Less than 540 Dollars a Month

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Credit: Buzz

Source: Radio Villa Francia / The Dawn News / August 16, 2017

According to a new research by Fundación Sol, led by economists Marco Kremerman and Gonzalo Durán, revealed that 50% of workers earns less than 350 thousand pesos a month (which is equal to 542 US dollars) and 7 out of 10 earn less than 500 thousand pesos (775 USD) after tax per month. The report concludes that in Chile there’s a situation of “considerable salary devaluation and low valuation of the workforce”. This adds to the high levels of debt and falling behind with debt payments by the end of the month. The report was based on data gathered by the New Survey of Complementary Income (NESI 2016).

The data analysis includes the general income distribution, the gender gap, the geographical variable and types of work. Economist Marco Kremerman explained that the most significative result of the study, titled “Real salaries in Chile” is that mean income (517 thousand Chilean pesos, or 793 US dollars) is not indicative of the situation of the majority of Chileans, since the vast majority of workers earn far less than that. And it’s worse for women: half of the female population of Chile earns less than 300 thousand pesos (456 dollars).

Only 14.7% of Chileans earns over 800 thousand pesos (1,240 US dollars)

84,5% of women with a paying job earn less than 650 thousand pesos (1,000 US dollars).

In November 2016, the poverty line for a 4-people home was at 410 thousand pesos in combined income. If we consider private-sector employees working full time, half of them aren’t able to single-handedly provide enough for their family to raise them out of poverty.

In the regions of Arica and Parinacota, Libertador, Maule, Biobio and Araucania, 70% of workers earns less than 450 thousand pesos.

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