economy
The four data points that reveal how the 23% increase in the minimum wage destroys formal employment in Colombia in 2026
The unemployment rate in March reached 8.8%, the lowest for that month since 2001, a figure that the Petro Government celebrated as a historic achievement...
TL;DR
- March unemployment rate in Colombia was 8.8%.
- This is the lowest unemployment rate for March since 2001.
- The Petro Government celebrated this statistic as a historic achievement.
- There are concerns that a 23% minimum wage increase could destroy formal employment in 2026.