Published on Tuesday, January 5, 2021

Colombia | Effects of Covid-19 on November employment

In November the labor market continued its recovery, at a slower pace. In November there were no additional sectoral openings so job creation was more related to the speed of the economic recovery. The unemployment rate continued to fall, with a less dynamic labor supply.

Key points

  • Key points:
  • The balance of the effect of the pandemic on the labor market leaves (always compared to February 2020): 1.6 million jobs lost, 900,000 additional unemployed and an increase in inactive people of 1.1 million.
  • In November, all sectors showed more moderate annual employment declines than the year's average, with the exception of hospitality.
  • Women, workers in small businesses and employees in private enterprises are among those most affected by job loss.
  • Moving forward, the labor market will continue to recover slowly.

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