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In the fourth session of the salary policy agreement commission, the businessmen presented their proposal to increase the minimum wage for 2021, equivalent to 2%.
The economic unions, including Andi, Asobancaria, Fenalco, Acopi and SAC, support their proposal on five points:
– The inflation caused from November 2019 to November 2020 was 1.49%.
– The unemployment rate, despite having shown a recovery, presented a value of 14.7% in October 2020, 4.9 percentage points above the unemployment rate in October 2019 (9.8%).
– The informality rate, in the national total, presented an indicator of 59.2% in the moving quarter July-September 2020 and a value of 47.2% for the 13 main cities and metropolitan areas.
– Total Factorial Productivity TFP contributed negatively with -0.6% to the added value of the economy in 2020.
– The GDP variation forecasts for the end of 2020 are, according to the Ministry of Finance, around -6.8%, the worst annual drop in the product in the recent history of Colombia.
According to the representatives of the employers, creating employment and reducing informality should be the priorities that should be taken into account when analyzing what should be the increase in the minimum wage in 2021.
“For entrepreneurs, what is best for the country is to create jobs, as well as recover those that were lost, maintain existing ones and achieve sustained growth in investment to continue generating work, as well as achieving real gains in workers’ wages. ”, They affirm.
They added that this was an atypical year due to the effects of COVID-19, which led to negative growth in the economy and productivity.
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