Labor Market Adjustment, Reform and Productivity in Colombia : What are the Factors that Matter? Volume 1, Issues and Policy Brief

This report carries out a detailed evaluation of the 2002 labor reform in Colombia, and in doing so, it also assesses the performance of the Colombian urban labor market and identifies the main policy challenges faced in this area. The report has three broad goals: First, to provide additional evide...

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Main Author:	World Bank
Format:	General Economy, Macroeconomics and Growth Study
Language:	English en_US
Published:	Washington, DC 2012
Subjects:	ACTIVE LABOR ACTIVE LABOR MARKET ACTIVE LABOR MARKET POLICIES ADULT WOMEN AVERAGE WAGE BUSINESS CYCLE CAPITAL MARKET CENTRAL BANK COMMERCE COMPETITIVENESS DECENTRALIZATION DISMISSAL EARNING ECONOMIC GROWTH ECONOMIC PERFORMANCE ECONOMIC SITUATION EMPLOYEE EMPLOYEE PERFORMANCE EMPLOYERS EMPLOYMENT CREATION EMPLOYMENT GENERATION EMPLOYMENT GROWTH EMPLOYMENT INDICATORS EMPLOYMENT OPPORTUNITIES FINANCIAL SECTOR FIRING FIRING COSTS FREE TRADE GAINFUL EMPLOYMENT GDP GROWTH RATE HIGH UNEMPLOYMENT HIRING HOUSEHOLD SURVEY HUMAN CAPITAL INCENTIVE EFFECTS INCOME INEQUALITY INFLATION INFORMAL EMPLOYMENT INFORMAL SECTOR INTERNATIONAL MARKETS JOB CREATION JOB SEARCH JOBS LABOR DEMAND LABOR FORCE LABOR FORCE PARTICIPATION LABOR MARKET LABOR MARKET ADJUSTMENT LABOR MARKET EFFICIENCY LABOR MARKET INSTITUTIONS LABOR MARKET INTERVENTIONS LABOR MARKET OUTCOMES LABOR MARKET REGULATIONS LABOR MARKET RIGIDITIES LABOR MARKETS LABOR REGULATIONS MACROECONOMIC STABILITY MARKET ANALYSIS MARKET WAGES MINIMUM WAGE MINIMUM WAGES NON-WAGE COSTS OCCUPATION PAYROLL TAXES PERSISTENT UNEMPLOYMENT POSITIVE EFFECTS PRIVATE SECTOR PROBATION PERIOD PRODUCTIVITY GROWTH PRODUCTIVITY INCREASES PRODUCTIVITY LEVELS PRODUCTIVITY PERFORMANCE PROMOTION PUBLIC EMPLOYMENT RECESSION RECOMMENDATIONS RETAIL RETAIL TRADE RISING UNEMPLOYMENT SAFETY NETS SALARIED EMPLOYMENT SALARIED WORKER SALARIED WORKERS SELFEMPLOYMENT SEVERANCE PAYMENTS SOCIAL JUSTICE SOCIAL PROTECTION SOCIAL SECURITY TAX REVENUES TOTAL EMPLOYMENT TOTAL FACTOR PRODUCTIVITY TOTAL LABOR FORCE TRADE NEGOTIATIONS TRAINING INSTITUTIONS TRAINING PROGRAM TRAINING PROGRAMS UNDEREMPLOYMENT UNEMPLOYED UNEMPLOYMENT UNEMPLOYMENT ASSISTANCE UNEMPLOYMENT INSURANCE UNEMPLOYMENT INSURANCE SYSTEM UNEMPLOYMENT RATE UNEMPLOYMENT RATES UNIONS VOLATILITY WAGE GROWTH WAGE PREMIUM WORKER WORKERS WORLD MARKETS YOUNG WORKERS
Online Access:	http://documents.worldbank.org/curated/en/2005/11/6527619/labor-market-adjustment-reform-productivity-colombia-factors-matter-vol-1-2-issues-policy-brief http://hdl.handle.net/10986/8404

id	okr-10986-8404
recordtype	oai_dc
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	ACTIVE LABOR ACTIVE LABOR MARKET ACTIVE LABOR MARKET POLICIES ADULT WOMEN AVERAGE WAGE BUSINESS CYCLE CAPITAL MARKET CENTRAL BANK COMMERCE COMPETITIVENESS DECENTRALIZATION DISMISSAL EARNING ECONOMIC GROWTH ECONOMIC PERFORMANCE ECONOMIC SITUATION EMPLOYEE EMPLOYEE PERFORMANCE EMPLOYERS EMPLOYMENT CREATION EMPLOYMENT GENERATION EMPLOYMENT GROWTH EMPLOYMENT INDICATORS EMPLOYMENT OPPORTUNITIES FINANCIAL SECTOR FIRING FIRING COSTS FREE TRADE GAINFUL EMPLOYMENT GDP GROWTH RATE HIGH UNEMPLOYMENT HIRING HOUSEHOLD SURVEY HUMAN CAPITAL INCENTIVE EFFECTS INCOME INEQUALITY INFLATION INFORMAL EMPLOYMENT INFORMAL SECTOR INTERNATIONAL MARKETS JOB CREATION JOB SEARCH JOBS LABOR DEMAND LABOR FORCE LABOR FORCE PARTICIPATION LABOR MARKET LABOR MARKET ADJUSTMENT LABOR MARKET EFFICIENCY LABOR MARKET INSTITUTIONS LABOR MARKET INTERVENTIONS LABOR MARKET OUTCOMES LABOR MARKET REGULATIONS LABOR MARKET RIGIDITIES LABOR MARKETS LABOR REGULATIONS MACROECONOMIC STABILITY MARKET ANALYSIS MARKET WAGES MINIMUM WAGE MINIMUM WAGES NON-WAGE COSTS OCCUPATION PAYROLL TAXES PERSISTENT UNEMPLOYMENT POSITIVE EFFECTS PRIVATE SECTOR PROBATION PERIOD PRODUCTIVITY GROWTH PRODUCTIVITY INCREASES PRODUCTIVITY LEVELS PRODUCTIVITY PERFORMANCE PROMOTION PUBLIC EMPLOYMENT RECESSION RECOMMENDATIONS RETAIL RETAIL TRADE RISING UNEMPLOYMENT SAFETY NETS SALARIED EMPLOYMENT SALARIED WORKER SALARIED WORKERS SELFEMPLOYMENT SEVERANCE PAYMENTS SOCIAL JUSTICE SOCIAL PROTECTION SOCIAL SECURITY TAX REVENUES TOTAL EMPLOYMENT TOTAL FACTOR PRODUCTIVITY TOTAL LABOR FORCE TRADE NEGOTIATIONS TRAINING INSTITUTIONS TRAINING PROGRAM TRAINING PROGRAMS UNDEREMPLOYMENT UNEMPLOYED UNEMPLOYMENT UNEMPLOYMENT ASSISTANCE UNEMPLOYMENT INSURANCE UNEMPLOYMENT INSURANCE SYSTEM UNEMPLOYMENT RATE UNEMPLOYMENT RATES UNIONS VOLATILITY WAGE GROWTH WAGE PREMIUM WORKER WORKERS WORLD MARKETS YOUNG WORKERS
spellingShingle	ACTIVE LABOR ACTIVE LABOR MARKET ACTIVE LABOR MARKET POLICIES ADULT WOMEN AVERAGE WAGE BUSINESS CYCLE CAPITAL MARKET CENTRAL BANK COMMERCE COMPETITIVENESS DECENTRALIZATION DISMISSAL EARNING ECONOMIC GROWTH ECONOMIC PERFORMANCE ECONOMIC SITUATION EMPLOYEE EMPLOYEE PERFORMANCE EMPLOYERS EMPLOYMENT CREATION EMPLOYMENT GENERATION EMPLOYMENT GROWTH EMPLOYMENT INDICATORS EMPLOYMENT OPPORTUNITIES FINANCIAL SECTOR FIRING FIRING COSTS FREE TRADE GAINFUL EMPLOYMENT GDP GROWTH RATE HIGH UNEMPLOYMENT HIRING HOUSEHOLD SURVEY HUMAN CAPITAL INCENTIVE EFFECTS INCOME INEQUALITY INFLATION INFORMAL EMPLOYMENT INFORMAL SECTOR INTERNATIONAL MARKETS JOB CREATION JOB SEARCH JOBS LABOR DEMAND LABOR FORCE LABOR FORCE PARTICIPATION LABOR MARKET LABOR MARKET ADJUSTMENT LABOR MARKET EFFICIENCY LABOR MARKET INSTITUTIONS LABOR MARKET INTERVENTIONS LABOR MARKET OUTCOMES LABOR MARKET REGULATIONS LABOR MARKET RIGIDITIES LABOR MARKETS LABOR REGULATIONS MACROECONOMIC STABILITY MARKET ANALYSIS MARKET WAGES MINIMUM WAGE MINIMUM WAGES NON-WAGE COSTS OCCUPATION PAYROLL TAXES PERSISTENT UNEMPLOYMENT POSITIVE EFFECTS PRIVATE SECTOR PROBATION PERIOD PRODUCTIVITY GROWTH PRODUCTIVITY INCREASES PRODUCTIVITY LEVELS PRODUCTIVITY PERFORMANCE PROMOTION PUBLIC EMPLOYMENT RECESSION RECOMMENDATIONS RETAIL RETAIL TRADE RISING UNEMPLOYMENT SAFETY NETS SALARIED EMPLOYMENT SALARIED WORKER SALARIED WORKERS SELFEMPLOYMENT SEVERANCE PAYMENTS SOCIAL JUSTICE SOCIAL PROTECTION SOCIAL SECURITY TAX REVENUES TOTAL EMPLOYMENT TOTAL FACTOR PRODUCTIVITY TOTAL LABOR FORCE TRADE NEGOTIATIONS TRAINING INSTITUTIONS TRAINING PROGRAM TRAINING PROGRAMS UNDEREMPLOYMENT UNEMPLOYED UNEMPLOYMENT UNEMPLOYMENT ASSISTANCE UNEMPLOYMENT INSURANCE UNEMPLOYMENT INSURANCE SYSTEM UNEMPLOYMENT RATE UNEMPLOYMENT RATES UNIONS VOLATILITY WAGE GROWTH WAGE PREMIUM WORKER WORKERS WORLD MARKETS YOUNG WORKERS World Bank Labor Market Adjustment, Reform and Productivity in Colombia : What are the Factors that Matter? Volume 1, Issues and Policy Brief
geographic_facet	Latin America & Caribbean America South America Colombia
description	This report carries out a detailed evaluation of the 2002 labor reform in Colombia, and in doing so, it also assesses the performance of the Colombian urban labor market and identifies the main policy challenges faced in this area. The report has three broad goals: First, to provide additional evidence to inform the intense debate taking place in the country around labor market issues, especially the reform. Second, to shed light on the key factors preventing a swift recuperation of the labor market. Third, to offer sensible policy alternatives that complement the step taken with the labor reform and address those key factors. The analyses are carried out for the key labor market outcomes: employment, unemployment, formality and wages, as well as productivity. Through the analysis of these variables the report tries to enhance the understanding of issues such as informality, labor market rigidities, job creation, protection against shocks and private sector performance. By and large, these determine whether people can find gainful employment, be adequately protected against shocks and whether firms are profitable so that, on the one hand, investment and technology adoption take place and, on the other, employment and wages grow, which are the truly important concerns for policy makers. The report illustrates key problems faced by Colombia: slow growth reflecting poor productivity performance, high and persistent unemployment and labor market rigidities that help in keeping unemployment high and productivity low. The 2002 labor reform shows positive results in some areas, while the impact on others was uncertain or moderate. Thus, the country today has three broad challenges. First, making the labor market as efficient as possible; second, increasing productivity growth as a precondition for stronger economic performance, and third, providing effective and inclusive services of social protection for the most vulnerable. These are the channels that will ultimately enable the increase of formal employment and favor wage growth.
format	Economic & Sector Work :: General Economy, Macroeconomics and Growth Study
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	Labor Market Adjustment, Reform and Productivity in Colombia : What are the Factors that Matter? Volume 1, Issues and Policy Brief
title_short	Labor Market Adjustment, Reform and Productivity in Colombia : What are the Factors that Matter? Volume 1, Issues and Policy Brief
title_full	Labor Market Adjustment, Reform and Productivity in Colombia : What are the Factors that Matter? Volume 1, Issues and Policy Brief
title_fullStr	Labor Market Adjustment, Reform and Productivity in Colombia : What are the Factors that Matter? Volume 1, Issues and Policy Brief
title_full_unstemmed	Labor Market Adjustment, Reform and Productivity in Colombia : What are the Factors that Matter? Volume 1, Issues and Policy Brief
title_sort	labor market adjustment, reform and productivity in colombia : what are the factors that matter? volume 1, issues and policy brief
publisher	Washington, DC
publishDate	2012
url	http://documents.worldbank.org/curated/en/2005/11/6527619/labor-market-adjustment-reform-productivity-colombia-factors-matter-vol-1-2-issues-policy-brief http://hdl.handle.net/10986/8404
_version_	1764405360203923456
spelling	okr-10986-84042021-04-23T14:02:39Z Labor Market Adjustment, Reform and Productivity in Colombia : What are the Factors that Matter? Volume 1, Issues and Policy Brief World Bank ACTIVE LABOR ACTIVE LABOR MARKET ACTIVE LABOR MARKET POLICIES ADULT WOMEN AVERAGE WAGE BUSINESS CYCLE CAPITAL MARKET CENTRAL BANK COMMERCE COMPETITIVENESS DECENTRALIZATION DISMISSAL EARNING ECONOMIC GROWTH ECONOMIC PERFORMANCE ECONOMIC SITUATION EMPLOYEE EMPLOYEE PERFORMANCE EMPLOYERS EMPLOYMENT CREATION EMPLOYMENT GENERATION EMPLOYMENT GROWTH EMPLOYMENT INDICATORS EMPLOYMENT OPPORTUNITIES FINANCIAL SECTOR FIRING FIRING COSTS FREE TRADE GAINFUL EMPLOYMENT GDP GROWTH RATE HIGH UNEMPLOYMENT HIRING HOUSEHOLD SURVEY HUMAN CAPITAL INCENTIVE EFFECTS INCOME INEQUALITY INFLATION INFORMAL EMPLOYMENT INFORMAL SECTOR INTERNATIONAL MARKETS JOB CREATION JOB SEARCH JOBS LABOR DEMAND LABOR FORCE LABOR FORCE PARTICIPATION LABOR MARKET LABOR MARKET ADJUSTMENT LABOR MARKET EFFICIENCY LABOR MARKET INSTITUTIONS LABOR MARKET INTERVENTIONS LABOR MARKET OUTCOMES LABOR MARKET REGULATIONS LABOR MARKET RIGIDITIES LABOR MARKETS LABOR REGULATIONS MACROECONOMIC STABILITY MARKET ANALYSIS MARKET WAGES MINIMUM WAGE MINIMUM WAGES NON-WAGE COSTS OCCUPATION PAYROLL TAXES PERSISTENT UNEMPLOYMENT POSITIVE EFFECTS PRIVATE SECTOR PROBATION PERIOD PRODUCTIVITY GROWTH PRODUCTIVITY INCREASES PRODUCTIVITY LEVELS PRODUCTIVITY PERFORMANCE PROMOTION PUBLIC EMPLOYMENT RECESSION RECOMMENDATIONS RETAIL RETAIL TRADE RISING UNEMPLOYMENT SAFETY NETS SALARIED EMPLOYMENT SALARIED WORKER SALARIED WORKERS SELFEMPLOYMENT SEVERANCE PAYMENTS SOCIAL JUSTICE SOCIAL PROTECTION SOCIAL SECURITY TAX REVENUES TOTAL EMPLOYMENT TOTAL FACTOR PRODUCTIVITY TOTAL LABOR FORCE TRADE NEGOTIATIONS TRAINING INSTITUTIONS TRAINING PROGRAM TRAINING PROGRAMS UNDEREMPLOYMENT UNEMPLOYED UNEMPLOYMENT UNEMPLOYMENT ASSISTANCE UNEMPLOYMENT INSURANCE UNEMPLOYMENT INSURANCE SYSTEM UNEMPLOYMENT RATE UNEMPLOYMENT RATES UNIONS VOLATILITY WAGE GROWTH WAGE PREMIUM WORKER WORKERS WORLD MARKETS YOUNG WORKERS This report carries out a detailed evaluation of the 2002 labor reform in Colombia, and in doing so, it also assesses the performance of the Colombian urban labor market and identifies the main policy challenges faced in this area. The report has three broad goals: First, to provide additional evidence to inform the intense debate taking place in the country around labor market issues, especially the reform. Second, to shed light on the key factors preventing a swift recuperation of the labor market. Third, to offer sensible policy alternatives that complement the step taken with the labor reform and address those key factors. The analyses are carried out for the key labor market outcomes: employment, unemployment, formality and wages, as well as productivity. Through the analysis of these variables the report tries to enhance the understanding of issues such as informality, labor market rigidities, job creation, protection against shocks and private sector performance. By and large, these determine whether people can find gainful employment, be adequately protected against shocks and whether firms are profitable so that, on the one hand, investment and technology adoption take place and, on the other, employment and wages grow, which are the truly important concerns for policy makers. The report illustrates key problems faced by Colombia: slow growth reflecting poor productivity performance, high and persistent unemployment and labor market rigidities that help in keeping unemployment high and productivity low. The 2002 labor reform shows positive results in some areas, while the impact on others was uncertain or moderate. Thus, the country today has three broad challenges. First, making the labor market as efficient as possible; second, increasing productivity growth as a precondition for stronger economic performance, and third, providing effective and inclusive services of social protection for the most vulnerable. These are the channels that will ultimately enable the increase of formal employment and favor wage growth. 2012-06-19T14:41:38Z 2012-06-19T14:41:38Z 2005-11 http://documents.worldbank.org/curated/en/2005/11/6527619/labor-market-adjustment-reform-productivity-colombia-factors-matter-vol-1-2-issues-policy-brief http://hdl.handle.net/10986/8404 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work :: General Economy, Macroeconomics and Growth Study Economic & Sector Work Latin America & Caribbean America South America Colombia

Labor Market Adjustment, Reform and Productivity in Colombia : What are the Factors that Matter? Volume 1, Issues and Policy Brief

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