Almost 10 million workers in 22 states will get raises on January 1. See where wages are rising.
CBSJUN 2023
Colombia Hikes Minimum Wage by 12%
Image copyright: Presidencia de Colombia/Flicker via Wikimedia Commons
The Spin
Left narrative
Because inflation is expected to further trend down in Colombia and unemployment has fallen to 9%, this wage increase — as well as a 15% raise in monthly transportation allowance — will help millions of vulnerable citizens nationwide boost their purchasing power.
Right narrative
It's a popular misconception that increasing the minimum wage will benefit low-skilled workers. As this move forces the price of labor up, it ultimately reduces formal job opportunities. Rather than imposing the minimum wage in a nation like Colombia, politicians should be focused on human capital to boost productivity.
Metaculus Prediction
There's a 17% chance that Colombia will experience a civil war before 2036, according to the Metaculus prediction community.
