Colombia | Labor market shows slight signs of recovery in August

Summary

In August of this year, the national unemployment rate was 10.6% and the urban unemployment rate was 10.8%. In seasonally adjusted terms, compared to the previous month, the unemployment rate remained relatively stable at the national and urban levels. The labor market showed a weak improvement in August.

Key points

• Key points:
• Between July and August 2022, adjusting for the seasonal factors of each month, the number of employed increased by 70 thousand at the national level and by 126 thousand at the urban level, with the cities showing greater job creation dynamism during the month.
• Between August 2021 and August 2022, national employment grew by 7.7% (1.6 million jobs) and urban employment by 7.2% (698 thousand jobs). Employment in private companies was the largest contributor to national job creation in the year.
• The sectors that contributed most to job creation between August 2021 and August 2022 were retail, public administration health and education, and arts and entertainment activities.

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