Productivity, key data in discussion of the minimum wage, skyrocketed in 2021
The figure for this year is above that reported for last year, when it was even negative, reaching -0.60%.
However, this would be a preliminary data and the final productivity report will be released next Tuesday, December 14.
Today, the Permanent Commission for Coordination of Salary and Labor Policies will also meet in plenary session to hear the reports from the Bank of the Republic, the Dane and the Ministries of Finance and Labor.
Thus, it is expected that after noon the projected inflation figure for this year will be known , another of the inputs to analyze and set the minimum wage.
Taking into account the outlook for inflation so far this year, which already exceeded the 5% barrier in November, and that preliminary productivity is positive, some experts forecast that the rise in the minimum for 2022 will be close to 7%.
“The level of production has already reached the pre-pandemic level, but the jobs have not, that is, more is produced with fewer workers, that immediately means greater productivity. So, we have high inflation and high productivity, which leads to a salary increase that, in our opinion, should be around 7% for next year , with a projection range between 6% and 9%, but there is more bias upwards”, explained Camilo Pérez, head of economic research at Banco de Bogotá.
