El otro mundo

TL;DR

Colombia has two parallel economies: formal (stable income, social security) and informal (precarious, no social safety net).
Approximately 60% of Colombia's 24 million employed individuals work in the informal sector.
A 23% increase in the minimum wage is predicted to widen the gap between these two sectors.
Increased minimum wage makes formal employment more costly due to salary and non-salary expenses, potentially leading to less hiring and more informality.
High informality is a significant societal problem with limited progress in addressing it.
Proposed solutions include increased labor market flexibility, reduced salary and non-salary costs (through health and pension contribution reviews), and exploring regional or sectoral minimum wages.
An agenda for productive inclusion is needed to support informal workers with associativity, financing, training, and digitalization.

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