Colombia | January, another good month for the labor market

Summary

The national unemployment rate in January 2025 was 11.6%, while the seasonally adjusted rate was 9.4%, staying below 10% for the third straight month. The strong performance of the unemployment rate is due to positive labor market dynamics, with employment accelerating its growth since late 2024.

Key points

• Key points:
• Employment growth picked up momentum, with job creation rising from an annual average of 0.8% between January and October 2024 to 1.8% in November, 3.3% in December, and 4.0% in January 2025.
• The increase in employment was mainly driven by non-salaried jobs, which grew at an annual rate of 4.5%. Salaried employment also gained traction, expanding at a 3.5% annual rate.
• As of January, 878,000 jobs were created on a year-over-year basis, and with the exception of professional services, all sectors contributed to employment growth. The services sector, led by "Accommodation and Food Services" and "Public Administration, Health, and Education", along with the trade sector, were the main drivers of job creation over the past year through January.

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