São Paulo – The 13th salary paid by public and private companies to workers in Brazil will amount to a combined R$ 158 billion (US$ 63.6 billion at current exchange rates) up 10.1% from R$ 143 billion (US$ 57.5 billion) last year. The sum includes advances paid throughout the year and will benefit approximately 84.7 million workers, up 2.9% from 2013. The median increment in earnings per worker, retiree or pensioner is R$ 1,774 (US$ 714).
The calculations are from the Inter-Union Department of Statistics and Socioeconomic Studies (Dieese), based on data collected by the General Register of Employed and Unemployed Persons (Caged). According to the Dieese, the projection of total 13th salary payments, equivalent to 3% of the Gross Domestic Product (GDP), was based on payments made to beneficiaries by the National Social Security Institute (INSS), and to retirees and pensioners by the federal government, states governments; for the first time, municipal government payments were also computed. In the case of salaried workers, payments were readjusted as per the fluctuations in the National Consumer Price Index (INPC). The calculations do not include informal and self-employed workers.
*Translated by Gabriel Pomerancblum
