The unemployment rate in Colombia rose to 12.87 percent in January 2019 from 11.8 percent in the corresponding month of the previous year. It was the highest jobless rate since February 2011, as the number of unemployed increased by 298 thousand to 3.18 million and the number of employed advanced by 58 thousand to 21.65 million. Meantime, the employment rate fell to 55.3 percent from 55.8 percent while the activity rate went up to 63.5 percent from 63.2 percent in January 2018. Unemployment Rate in Colombia averaged 11.43 percent from 2001 until 2019, reaching an all time high of 17.87 percent in January of 2002 and a record low of 7.30 percent in November of 2015.
Unemployment Rate in Colombia is expected to be 9.30 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 9.10 in 12 months time. In the long-term, the Colombia Unemployment Rate is projected to trend around 12.40 percent in 2020, according to our econometric models.