An analysis based on OECD data ranks Colombia as the member country where the most hours are needed to reach US$1,000 in earnings. The study adjusted by purchasing power parity shows that an average worker must labor nearly 86 hours.
Luxembourg and Iceland top the list with only 16 hours required. They are followed by Switzerland with 18 hours, Norway and Denmark with 19 each, and the Netherlands with 20.
The United States appears with 22 hours. In Latin America, Mexico needs 78 hours and Costa Rica 53.
The report attributes the differences to lower productivity levels, higher labor informality and limited access to capital in the region. The figures correspond to average annual salaries before taxes, adjusted by purchasing power parity.
