In its most recent report on the labor market, presented this Friday, the National Administrative Department of Statistics (DANE) revealed that in May 2024, the unemployment rate in Colombia was 10.3%.
(Read: The reduction of the working day is approaching: what does it mean for companies?).
According to the report, The figure is lower than the 10.5% recorded in the same month of 2023 and is also below the figure for the previous month (April 2024), when it was 10.6%.
For its part, the global participation rate was 64.1% and the occupancy rate was 57.5%. These rates in May 2023 were 63.9% and 57.2%, respectively.
(See: ‘Rate war’: Bancolombia announces reduction of interest on housing loans).
In all 13 cities and metropolitan areas, the unemployment rate in May was 10.3%while in the same month of 2023 it was 11.2%.
The overall participation rate was 67.1%, which represented an increase of 1.4 percentage points compared to May 2023 (65.7%). Finally, the occupancy rate was 60.2%, which represented an increase of 1.9 percentage points compared to the same month in 2023 (58.3%).
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