Employers and unions agree to maintain the minimum wage increase: Ministry of Labor
This February 16, a session of the Concertation Commission was held, convened by President Gustavo Petro's instruction to review the effects of the order issued by the Council of State, which suspended the decree that increased the minimum wage by 23.7%.
TL;DR
- A majority in the Concertation Commission favors not modifying the current minimum wage increase.
- Employers and labor unions reportedly agree on maintaining the 23.7% minimum wage hike.
- The main argument for maintaining the increase is to preserve stability and avoid uncertainty in the labor market.
- Modifying the minimum wage could impact business planning and household finances.
- The government will issue a transitional decree as instructed by the Council of State, which suspended the previous decree.
- The Ministry of Labor expects the new decree to retain the current 23.7% increase.