How much has the minimum wage increased in the last 10 years?
Posted: Wed Jan 22, 2025 4:06 am
These days, one of the most consulted topics in Colombia is the percentage increase in the minimum wage for 2025, an issue that directly impacts the quality of life of millions of workers and their families.
This salary represents the minimum remuneration that an employee should receive for his work, guaranteeing a basic income to meet his essential needs. What was the increase for this year and how has it behaved over the last decade? In this article we answer you.
How is the minimum wage increase percentage determined?
The Permanent Commission on Salary and Labor Policies (CPPSL) was engineer database and regulated by the Colombian Political Constitution and Law 278 of 1996 respectively.
One of the main purposes of this commission is to establish in a concerted manner the minimum wage , considering several fundamental aspects of the economy and society, according to article 2, literal D , of Law 278 of 1996.
The CPPSL has a tripartite structure that includes:
Government representatives: The Ministers of Labor, Finance, Development and Agriculture, as well as the director of the National Planning Department (DNP) participated.
Employer representatives: Five delegates from the country's most important trade associations.
Workers' representatives: Three representatives of trade unions, one of pensioners and one of the unemployed.
The process for setting the minimum wage is as follows:
Tripartite agreement: A consensus is sought between the three parties (government, employers and workers) no later than December 15 of each year.
Second stage of negotiation: If no initial agreement is reached, an additional period until December 30 is established to continue deliberations.
Government decision: In the event that agreement is not reached, the National Government has the power to set the legal minimum wage by decree.
This salary represents the minimum remuneration that an employee should receive for his work, guaranteeing a basic income to meet his essential needs. What was the increase for this year and how has it behaved over the last decade? In this article we answer you.
How is the minimum wage increase percentage determined?
The Permanent Commission on Salary and Labor Policies (CPPSL) was engineer database and regulated by the Colombian Political Constitution and Law 278 of 1996 respectively.
One of the main purposes of this commission is to establish in a concerted manner the minimum wage , considering several fundamental aspects of the economy and society, according to article 2, literal D , of Law 278 of 1996.
The CPPSL has a tripartite structure that includes:
Government representatives: The Ministers of Labor, Finance, Development and Agriculture, as well as the director of the National Planning Department (DNP) participated.
Employer representatives: Five delegates from the country's most important trade associations.
Workers' representatives: Three representatives of trade unions, one of pensioners and one of the unemployed.
The process for setting the minimum wage is as follows:
Tripartite agreement: A consensus is sought between the three parties (government, employers and workers) no later than December 15 of each year.
Second stage of negotiation: If no initial agreement is reached, an additional period until December 30 is established to continue deliberations.
Government decision: In the event that agreement is not reached, the National Government has the power to set the legal minimum wage by decree.