The unemployment rate in Colombia increased to 14.7 percent in October of 2020 from 9.8 percent in the corresponding month of the previous year. It was one of the highest jobless rates on record, as the coronavirus pandemic hit the labour market. The number of unemployed rose by 1.162 million to 3.652 million while employment dropped by 1.539 million to 22.813 million. Meantime, the employment rate fell to 53.2 percent from 57.8 percent in October 2019 while the activity rate declined to 62.3 percent from 64.1 percent. source: Dane, Colombia
Unemployment Rate in Colombia averaged 11.59 percent from 2001 until 2020, reaching an all time high of 21.40 percent in May of 2020 and a record low of 7.30 percent in November of 2015. This page provides the latest reported value for - Colombia Unemployment Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Colombia Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on December of 2020.
Unemployment Rate in Colombia is expected to be 16.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Colombia to stand at 15.70 in 12 months time. In the long-term, the Colombia Unemployment Rate is projected to trend around 15.50 percent in 2021 and 14.50 percent in 2022, according to our econometric models.