The unemployment rate in Colombia increased to 10.5 percent in May 2019 from 9.7 in the same month of the previous year. The number of unemployed went up by 191 thousand to 2.61 million while the number of employed fell by 287 thousand to 22.16 million. Meantime, the employment rate dropped to 56.4 percent from 57.9 percent while the activity rate declined to 63.1 percent from 64.1 percent in May 2018. Unemployment Rate in Colombia averaged 11.41 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 9.20 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 9.60 in 12 months time. In the long-term, the Colombia Unemployment Rate is projected to trend around 10.00 percent in 2020, according to our econometric models.