'It was a lie, minimum wage had no negative effects on employment': Minister of Labor
Minister of Labor, Antonio Sanguino Photo: Mintrabajo
TL;DR
- Minister of Labor Antonio Sanguino asserts that minimum wage policy has not negatively affected Colombia's labor market.
- Figures from February 2026 indicate the generation of 624,000 jobs and a drop in unemployment to 9.2%, the lowest this century.
- 814,000 formal jobs were created, while informal employment decreased, lowering the informality rate to 55.3%.
- Unemployment among women fell to 11.7% (lowest since 2010), rural unemployment to 6.8%, and youth unemployment to 16.5%.
- The minister believes these figures demonstrate the possibility of inclusive growth and real opportunities.
- Challenges, such as the gender gap, still persist in the labor market.