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January 23, 2022
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Banrep co-director’s criticism of the increase in the minimum of 10.07%

Group of businessmen ratify raising the 2022 minimum to $ 1 million

Robert Steiner, co-director of the Banco de la República, said that the 10.07% increase in the minimum wage, which raised the figure to one million pesos, will not facilitate the recovery of the working market.

(See: Mipymes, attentive to the extension of the payroll subsidy).

The recent decisions in labor matters that the Government took and that may have a political justification are not going to facilitate the recovery of the labor market. that’s a shame”, assured Steiner, in a personal capacity, in a webinar organized by Itaú.

The co-director stressed that the labor market has been recovering along with economic activity. But nevertheless, stressed that, if you look at the seasonally adjusted figures, the pace has slowed and the rate remains high.

(See: Keys to liquidate the salary increase and severance interest).

According to the latest Dane reports, in seasonally adjusted calculations, which allow comparisons to be made month by month, the unemployment rate it was 12.6% in November 2021.

In addition to this, he highlighted the growth projection that we have for this 2022 and that is between 4% and 5%.

(See: There are 66 charges that will no longer increase with the minimum wage).

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