In 2026, Latin American governments announced a wage increase for the year, without yet specifying its scope. In contrast, Guatemala and Honduras combine moderate hikes with high levels of informality, which limit the real impact of the increases. Guatemala approved a raise of between 4% and 7.5%, in a country where nearly 70% of the population works in the informal sector. In Honduras, the minimum wage ranges between $460 and $638, depending on the size of the company. In Panama, an increase of between $9.50 and $15 was approved in December, effective from January 16, in a country with more than 50 minimum wages, depending on economic activity and region. In 2024, the increase was between 4.5% and 7%, leaving the minimum wage at $341.12. The most extreme cases remain Venezuela and Cuba. In Venezuela, the minimum wage has been frozen since 2022 at around $0.40 per month, offset by bonuses that do not affect labor benefits. In Cuba, the minimum income is about $5, with virtually no purchasing power. Although the average minimum wage in Latin America is around $400, this figure hides deep gaps between countries and sectors. For 2026, the debate will continue to focus on how to improve real income without affecting formal employment or fiscal sustainability.
