Colombia | Unemployment rate remains relatively low in April

Summary

The national unemployment rate was 10.7% in April, down from 11.2% in the same month of 2022. Seasonally adjusted, the April unemployment rate was at relatively low levels. These lower levels of the unemployment rate have been observed since February 2023 and have been leveraged by a strong increase in employment.

Key points

• Key points:
• Employment in April remained at high levels similar to those in March. On an annual basis, employment in April resumed the slowdown that had started in May 2022 and was interrupted in March 2023.
• In annual terms, 785,000 jobs were created, driven, sectorally, by: "accommodation and food services" (+196,000 jobs), "agriculture" (+184,000 jobs) and "public administration, health and education" (+118,000 jobs). These sectors had already driven job creation in March.
• Industry (+162 thousand jobs) made a considerable contribution to annual job creation in April. On the other hand, job losses in the retail sector (-58 thousand jobs) were notable.
• By category, non-wage earners, small and medium-sized cities and 25-54 year-olds showed the largest annual employment gains.

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