Colombian Employers, Unions Fail To Reach
Min Salary Deal
BOGOTA (Dow Jones) - Negotiations between
Colombian employer groups and trade unions
over the level of country's minimum monthly
salary has ended without an agreement. The
Colombian government will now set the
country's minimum salary for 2010 by decree.
Unions had demanded an 8% increase in the
minimum salary, while employer groups argued
for 3.2%, according to local press reports.
"We did not reach an agreement, therefore
the process of negotiation is over, and in
consequence we do not consider it necessary
to hold further meetings on this subject,"
the two sides said in a joint declaration on
Thursday.
The minimum salary for 2009 is 496,900
Colombian pesos ($246) per month.
On Monday, Deputy Finance Minister Goria
Ines Cortes said the government would raise
the minimum salary by 3% if an agreement
wasn't reached.
Colombia's consumer price index fell 0.07%
in November. This brought the 12-month
inflation rate in the period through
November to 2.37%, its lowest level since
the 1950s.
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