Colombia | National Unemployment Rate at 9.1% in October

The national unemployment rate for October stood at 9.1%, similar to the 9.2% recorded a year ago, and seasonally adjusted figures show it was similar to September of this year. In October, national employment levels remained stable compared to September (seasonally adjusted).

Key points

• Key points:
• Seasonally adjusted data shows that national employment reached 23.1 million people in October, remaining stable compared to September. This stability follows the decline in employment observed in September.
• At the sectoral level, retail was the largest generator of employment, creating 289,000 jobs over the year. In contrast, the sector that experienced the most job losses was Public Administration, Health, and Education (-106,000 jobs), likely linked to the slowdown in Central Government spending observed in activity data since the third quarter of the year.
• Between October 2023 and October 2024, the informality rate, measured as the ratio of non-salaried workers to total employed individuals, decreased from 52.2% to 51.2%.
• Regionally, urban areas showed better employment performance compared to rural areas, with the highest employment growth observed in smaller cities.

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