Colombia News | Colombia Reports
  • News
    • General
    • Analysis
    • War and peace
    • Elections
    • Economy
    • Culture
    • Sports
    • Science and Tech
  • Travel
    • General
    • Bogota
    • Medellin
    • Cali
    • Cartagena
    • Antioquia
    • Caribbean
    • Pacific
    • Coffee region
    • Amazon
    • Southwest Colombia
    • Northeast Colombia
    • Central Colombia
  • Data
    • Economy
    • Crime and security
    • War and peace
    • Development
    • Cities
    • Regions
    • Provinces
  • Profiles
    • Organized crime
    • Politics
    • Armed conflict
    • Economy
    • Sports
  • Lite
  • Opinion
  • About us
  • Support us
  • Contact Us
  • Intelligence
  • Advertising
  • Newsletter
Colombia News | Colombia Reports
  • News
    • General
    • Analysis
    • War and peace
    • Elections
    • Economy
    • Culture
    • Sports
    • Science and Tech
  • Travel
    • General
    • Bogota
    • Medellin
    • Cali
    • Cartagena
    • Antioquia
    • Caribbean
    • Pacific
    • Coffee region
    • Amazon
    • Southwest Colombia
    • Northeast Colombia
    • Central Colombia
  • Data
    • Economy
    • Crime and security
    • War and peace
    • Development
    • Cities
    • Regions
    • Provinces
  • Profiles
    • Organized crime
    • Politics
    • Armed conflict
    • Economy
    • Sports
  • Lite
  • Opinion
(Photo: Comunidad Textil)
Economy

1.2 million Colombians see their minimum wage go up $12/month

by Nat Smith January 6, 2015

Colombia’s minimum wage will be increased by 4.6%, or $12, to $265 a month in 2015, the government announced to the disappointment of labor unions who claim the hike is a mere “tip.”

The minimum wage hike will affect the 1.2 to 1.3 million Colombian workers who currently receive the minimum wage. The minimum base wage in Colombia will now be 644,350 pesos per month. This value will total 718,300 once the minimum transport subsidiaries of $30 are added.

A rise in minimum wage is often compared to inflation; the amount that the price of goods and services increase in an economy. LatinFocus Consensus Forecast predict the inflation rate in 2015 to be 3.1%, giving an estimated 1.5% gap between the rise in the minimum wage and the rise of the price level.

The president of the labor union CUT acknowledged the rise with disappointment and stated that it represented a mere “tip” to workers. He said that while the government intends to overcome social inequality, actions such as this are in fact deepening it.

Another labor leader told local press that neither the 9.5% increase they proposed nor “a 50% increase would be enough for workers to have the income required to live with dignity.”

Colombia’s labor minister was more positive regarding the outcome stating that “while we were unable to agree on the number, what is left of this tripartisan social dialogue is that there was a positive mood that doesn’t leave anyone hurt along the way.”

The minimum wage laws are annually discussed by the so-called Consultation Committee of Wage and Labor Policies every December, with the government acting as the mediator between the representatives of the workers and the employers. This year, the employers proposed a 4.2% rise and the workers 9.5%.

As the two parties couldn’t come to a compromise, the administration of President Juan Manuel Santos intervened and set the increase at 4.6%.

economylaborminimum wage

Trending

  • Colombia’s main cities shut down as COVID threatens to collapse healthcare

  • Colombia’s capital Bogota to lock down for another weekend

  • What COVID taught Colombia about cocaine | Part 1: the tsunami

Weekly interviews and news updates

Related articles

  • Colombia not considering new coronavirus lockdown

  • Colombia considering 20% minimum wage cut for new jobs

  • Duque goes blank as Colombia’s economic crisis turns catastrophic

  • Facebook
  • Twitter
  • Linkedin
  • RSS

@2008-2019 - Colombia Reports. All Rights Reserved.
Powered by Digitale Zaken and Parrolabs


Back To Top