The National Administrative Department of Statistics (Dane) revealed that, in May, The unemployment rate fell slightly for the second consecutive month.
According to the criteria of
In the fifth month of the year, the national unemployment rate was 10.3 percentwhich represented a reduction of 0.2 percentage points compared to the same period in 2023, when the figure stood at 10.5 percent. This is the lowest figure for May since 2018 (10 percent).
The seasonally adjusted rate, which allows for month-to-month comparisons, also fell, from 10.5 percent in April to 10.3 percent in May.
It is highlighted that while the rate for men was 9 percent in May, that for women was 12.1 percent. which represents a gap of 3.1 percentage points, 1.7 points less than that recorded a year ago and the lowest since the statistical entity has data (2010).
Photo:iStock
On the other hand, the country’s employed population reached 23.03 million in May, which means that 463,000 more jobs were generated than in the same period of the previous year. The greatest creation of jobs was recorded in the age group of 25 to 54 years (+272,000)followed by those aged 55 and over (+155,000) and those between 15 and 24 years old (-36,000).
By sex, men obtained 304,000 jobs, while women regained 158,000.
Positive and negative branches
Seven of the 13 branches measured by the Dane registered positive figures in May. The one that recovered the most jobs was artistic and entertainment activities, with 231,000 more jobs. Of these, 151,000 were women and 80,000 were men.
Construction followed, with 160,000 more jobs than a year ago; accommodation and food services with 139,000 more; and public administration, defence and education, with 100,000 more jobs.
Likewise, manufacturing, real estate activities and the supply of electricity, gas and water increased in May, with 89,000, 49,000 and 13,000 more jobs, respectively.
On the contrary, the remaining six branches lost positions in the fifth month of the year. The sector that lost the most jobs was in trade and vehicle repair, which recorded a contraction of 137,000 jobs. compared to the same period in 2023.
The trade sector was the one that lost the most jobs in May.
Photo:Hector Fabio Zamora
Next comes the transport and storage sector, with 63,000 fewer employees, and the financial and insurance sector, with 55,000 fewer.
It is followed by the Information and Communications branch, which lost 25,000 jobs in May; In agriculture there were 21,000 fewer jobs than a year ago; and in professional and scientific activities there was a contraction of 17,000.
In May there were 6,000 more unemployed
Meanwhile, The number of unemployed in May (those who are looking for work, but cannot find it) was 2.64 million, which represented an increase of 6,000 people compared to the figure recorded in the same period in 2023.
He points out that while the number of unemployed women fell by 117,000, the number of unemployed men rose by 123,000.
Photo:Milton Diaz. THE TIME
In May, the inactive population or those outside the labor force was 14.37 million people, which represented an increase of 0.8 percent (+107,000) compared to the 14.26 million in the same period of the previous year. This population, mostly women, was concentrated in household occupations.
Cities with the highest and lowest rates
For the moving quarter March – May 2024, of the 23 cities and metropolitan areas, those with the highest unemployment rates were: Quibdó (28.6 percent), Riohacha (19.5 percent) and Florencia (16.4 percent).
On the contrary, those that registered the lowest unemployment rate were Bucaramanga (8.8 percent), followed by Santa Marta (9.3 percent) and Medellín (9.4 percent).
