How much should the minimum wage be in Colombia? This is what the AI ​​says

The theme of Minimum wage In Colombia it continues to generate great controversies in relation to the cost of living of families and the possibilities of living with dignity. This 2024, the minimum wage has been established at 1,300,000 Colombian pesos or 285.35 dollars, which represents almost a 12% increase compared to 2023. Along these lines, ChatGPT revealed what amount it should be for a family.

What does Artificial Intelligence say?

When asked what number could be the ideal, the application takes as a parameter what a single person spends. If food, housing, public services and transportation are taken into consideration, that number rises to 2,731,935 COP or $673 dollars per month to cover your basic needs.

Artificial intelligence points out, then, that the The current minimum wage only covers approximately 48% of the monthly costs necessary to live adequately.

(Read: Citizen Income: the date in November that beneficiaries should take into account)

The minimum wage for a family

According to the consulting firm Living Cost, a family of four people would require approximately 4,000,000 COPabout $1,000 dollars a month to cover food, rent or mortgage, utilities and travel expenses.

Therefore, logic indicates that it is not enough for this type of family group to live peacefully in Colombia, since it covers only 32.5% of the estimated cost.

(More: How much should I earn to live well in Colombia? This was revealed in a study)

If we decide to make calculations for a family of 6 people, The current minimum wage only covers 40% of needs. If the same factors are taken into account, the ideal numbers range between 4,200,000 and 6,200,000 COP, that is, more than 1,500 dollars.

Currently there are conflicting opinions. There are those who suggest that the increase in the current minimum wage is a positive step, while others continue to highlight that it is insufficient as long as inflation and informal employment are not controlled. The effectiveness of this increase will depend on how the national government applies it and what other benefits they add.