Colombia | In April of 2021, the labor market deteriorated in comparison with March

Summary

In April 2021, the national unemployment rate stood at 15.1%. Between March and April of 2021, labor variables showed deterioration, with a sharp drop in employment and labor force and an increase in unemployment.

Key points

• Key points:
• In April, the national unemployment rate was 15.1%, a reduction compared to April of last year (19.8%). Between March and April, with seasonally adjusted data, there was an increase of 1.2 percentage points in the unemployment rate.
• The increase in the unemployment rate between March and April is explained by the fall in employment, an increase in the number of unemployed and a reduction in the labor force.
• By April 2021, 67% of the 5.9 million jobs lost between February and April 2020, the time of the worst deterioration in the labor market, had been recovered.
• In May, employment levels will remain low, partly due to the negative effects of the pandemic, social protests, and the blockades.

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