The unemployment rate in Colombia rose to 8.8 percent in November of 2018 from 8.4 percent in the corresponding month of the previous year. The number of unemployed increased by 67 thousand from a year ago to 2.16 million and employed fell by 412 thousand to 22.46 million. Meantime, the employment rate decreased to 57.5 percent from 59.3 percent a year earlier and the activity rate declined to 63.1 percent from 64.8 percent. Unemployment Rate in Colombia averaged 11.43 percent from 2001 until 2018, 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 8.80 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 9.20 percent in 2020, according to our econometric models.