Minimum wage: the base data to begin the discussion of the 2025 increase

The consultation table, of which the National Government, businessmen and unions, and unions are part, is in charge of defining annually the percentage increase in the minimum wage.

(Read more: Minimum wage 2025: how much would it rise if hourly labor productivity is applied)

To define this increase, the negotiation table takes into account some economic variables. Among these parameters, there are two that stand out: the most recent inflation data and labor productivity.

According to the latest report from the National Administrative Department of Statistics (Dane), the annual variation of the Consumer Price Index (CPI) As of November, it stood at 5.20%. This is the figure that would be taken as a basis for the construction of the proposals.

The tripartite table also takes into consideration labor productivity figures.

(More news: Minimum wage: productivity calculation generates conflicting positions)

(See: In the absence of inflation, the minimum negotiation table already has inputs to discuss)

In that sense, Dane explained that, so far this year, Total Factor Productivity (TFP) was 1.73%. Meanwhile, labor productivity per hour worked was 3.43%, labor productivity per person employed was 1.76% and average productivity was 3.14%.

In addition to these parameters, others are evaluated such as GDP figures or the National Transfer and Labor Market Accounts.

Keep in mind that yes or yes, the increase in the minimum must be above the inflation of the ending year, as determined by law. Currently, this remuneration stands at $1,300,000.

(See: Businessmen insist that more rigor is required in measuring productivity)

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