The unemployment rate in Colombia rose to 21.4 percent in May of 2020 from 10.5 percent in the corresponding month of the previous year, but below market expectations of 22 percent. It was the highest jobless rate on record, as the coronavirus pandemic hit the labour market. The number of unemployed increased by 2.083 million to 4.694 million while employment declined by 4.902 million to 17.262 million. Meantime, the employment rate dropped to 43.4 percent from 56.4 in May 2019 and the activity rate declined to 55.2 percent from 63.1 percent.
Unemployment Rate in Colombia averaged 11.47 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 July of 2020. source: Dane, Colombia
Unemployment Rate in Colombia is expected to be 21.00 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 19.00 in 12 months time. In the long-term, the Colombia Unemployment Rate is projected to trend around 17.70 percent in 2021 and 15.00 percent in 2022, according to our econometric models.