Monday, July 4, 2022

Minimum wage workers call for 8%, employers 3.3% increase

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As the debate over Colombia’s minimum wage increase for 2014 continues, workers’ unions called for an 8% increase, while the business lobby called for a 3.3%  increase.

Colombia’s monthly minimum wage for 2013 was $305.47 per month, or $3,665 per year.  From 2012 to 2013, the minimum wage was increased by 4.02%, surpassing the 2013 inflation rate of 1.67% (calculated in November 2013).

Colombia’s Minister of Labor Rafael Pardo said to local media to expect a 4% increase in the minimum wage again this year.

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MORE: Debate opens over Colombia’s 2014 minimum wage

Workers’ unions were disappointed by the government minimum wage raise increase in 2013.

In addition to their proposal for a 8% increase, the workers union also called for a 12% increase for a transportation subsidy for minimum wage workers.

MORE: Colombia’s minimum wage rises 4% despite union objections

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According to government statistics, 54% of workers in Colombia earn the minimum wage or less. Furthermore, a total of 3.4 million workers do not earn even one half of the country’s minimum wage.

In Colombia, much of the country’s economic activity exists outside the government-regulated economy, allowing employers to pay workers salaries less than the legal minimum wage.

There are 900,000 Colombian workers (less than 5%) who earn over four times the monthly minimum wage. Of those who earn over four times the minimum wage, 630,000 have a university education.

Minimum wage vs. Inflation

Sources

The post Minimum wage workers call for 8%, employers 3.3% increase appeared first on Colombia News | Colombia Reports.

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Rico
"Rico" is the crazy mind behind the Q media websites, a series of onlinemagazines that includes TodayColombia.com. Rico brings his special kind of savvy to online marketing. His websites are engaging, provocative, informative and sometimes off the wall, where you either like or you leave it. The same goes for him, like him or leave him.There is no middle ground. No compromises, only a passion to present reality as he sees it!

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