Labor Reform: The four sectors that will benefit the most were confirmed.

The Labor Reform in Colombia is a closely watched issue for all workers , and there will be an increase in their wages due to the modification of the workday and, of course, overtime. Considering this issue, which sectors will benefit from this measure?

According to information published by the Presidency of the Republic, this situation stems from a matrix belonging to the Social Accounting of DANE's national accounts, which can be used to capture economic interactions. Therefore, agriculture, commerce, and entertainment services, along with industry, are expected to become the sectors with the greatest job growth. (See more: 7 Tips to Get Rid of Rat Infestations Once and for All) “There will be a redistribution of income through a wage increase, which would encourage consumption, which would grow by 0.63%, impacting economic growth via aggregate demand, which in turn will require the hiring of new jobs,” confirmed Antonio Sanguino, Minister of Labor. This situation will evidently contribute to investment and improve the expectations of all entrepreneurs, which in turn will increase the demand for jobs, an issue that will probably improve current conditions.

What is the pension bonus for farmers?

Currently, only 8.6% of the rural population is eligible for pension benefits. Therefore, government authorities are seeking to change this situation to cover a greater number of older adults. (See more: This spider is extremely dangerous to humans: how to identify it?) "This fund aims to ensure that 3.9 million agricultural workers can have an income in their old age, thus guaranteeing them a dignified old age," said Sanguino. This new legislation seeks to recognize the rights of all workers and also raise the level of protection for excluded and vulnerable populations.