The unemployment rate in Colombia increased to 9.3 percent in November of 2019 from 8.8 percent in the corresponding month of the previous year. The number of unemployed advanced by 178 thousand to 2.33 million and employment went up by 413 thousand to 22.87 million. Meantime, the employment rate edged up to 57.8 percent from 59.5 percent. Unemployment Rate in Colombia averaged 11.38 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. source: Dane, Colombia
Unemployment Rate in Colombia is expected to be 9.90 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 9.20 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.