This Thursday, during the meeting of the productivity Subcommittee, Chaired by the Minister of Labor, Gloria Inés Ramírez, and in which the productivity data that will be taken into account for the discussion of the minimum wage in 2023 is evaluated, the preliminary figures of the national total of three different measurement methodologies were presented.
(Three models for the data on productivity in the minimum wage).
According to a Dane presentation, Total factor productivity (TFP) in the LAC-Klems methodology was 1.24% and it was the methodology chosen by the ministry to define the productivity figure, after Dane presented three different data.
On the other hand, the total productivity of the factors (TFP) of the Conference Board methodology was 0.7%.
(Productivity and other factors that put pressure to bid for salary).
Likewise, labor productivity per hour worked according to the OECD methodology was 0.67% and labor productivity per person employed was 0.08%.
The LAC-Klems method was the one that yielded the highest data, among the three analyzed.
It should be noted that the productivity figure is higher than that registered last year when it was 1.19%.
“There is an atmosphere of concertation. We are working on the processes to maintain the purchasing power of Colombians”said Minister Ramírez, after the decision.
This figure puts greater pressure on the bid for the rise in next year’s minimum. This is because to determine the increase, both the inflation data, which is at its highest level in the last 23 years with an annual 12.2 percent as of October, plus the productivity figure.
In this way, taking into account for the moment that October inflation, it could be said that the minimum wage, which today stands at one million pesos, could increase by 134,000 pesos, that is, it would rise to 1,134,400 pesos.
“We all have a very good disposition, with a very important level of synergy and, above all, with a lot of responsibility”, said the Minister of Labor, Gloria Inés Ramírez, who is optimistic about the negotiation that has just begun.
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