SER opinion on minimum wage increase despite time constraints

Willemstad, December 22, 2023 – The Social and Economic Council (SER) of Curaçao, today, Friday, December 22, 2023, issued its opinion on the revision of the minimum hourly wage to take effect January 1, 2024.

The SER received the request for its opinion on December 15, 2023, which followed a decision by the Council of Ministers on December 13, 2023. The proposal includes an increase in the minimum hourly wage from NAf. 10.70 to NAf. 11.28 effective the first of Januari 2024, based on a 5.4% increase in the family consumption price index.

The SER recognizes that the short deadline for consultation presented challenges in consulting stakeholders. This is critical for careful consideration of interests. Despite these time constraints, the tripartite advisory body based its advice on thorough research on minimum wage adjustments, thorough data analysis, and relevant scientific literature.