The increase in Colombia’s legal minimum wage for 2012 should be moderate so that job creation is not affected, said the country’s finance minister.
Finance Minister Juan Carlos Echeverry said, “from the point of view of the Ministry of Finance, the increase in the minimum wage should be a cautious increase which recognizes the increase in inflation and productivity,” in recognition of the fall in the rate of unemployment to 9.7%., Caracol Radio reported Monday.
Echeverry also asked the labor round table to be cautious, due to the fact that the Colombian economy is generating a lot of employment and this momentum needs to be maintained. For this reason, as with every year, the minister said that the increase should not be excessive nor minuscule.