Tag

More Mayor McMeat, Hidroituango, Colombia's Minimum Wage, Mangos & Potatoes, Peru's Problem with Petro

Petro confirmed a salary increase of16% and an increase in the transport subsidy of 20%.

What we did see from the latest Fedesarrollo survey was the expectation that interest rates will rise to 12% by year end.

While the president is away at the COP27 summit, inflation hit a 23 year high, which will no doubt affect the coming minimum wage increase.

On Friday we also had the Central Bank's latest survey for October, and everything continues to trend upwards versus September.

The Colombian minimum monthly labor wage for a full-time worker is roughly $260 USD + benefits

The Luffa or "Loofah" sponge that Zara Home offered for over $14 USD can be had from retailers for under $1 and is the inside of a dried fruit. Ridicule was fast & furious on social media.

The Colombian government has set minimum legal wages, transportation subsidies, and the integrated wage for higher paid employees for 2021, reflecting a 3.5% increase over 2020 levels.

Colombia’s government has raised the minimum wage for 2020 by 6% to $980,657 Colombian Pesos ($298.92 USD) per month, including the transportation subsidy mandatory for employees making less than twice the official minimum wage. The minimum monthly salary will be set at $877,803...

President Santos said the goal of the negotiation is “to maintain the income of workers but also to avoid a negative effect" for those who earn the minimum.