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In July, the unemployment rate was 14.3%, lower than in July 2020, but higher than in July 2019. Between June and July 2021, with comparable data, the unemployment rate decreased by 1.1 p.p.. This reduction was leveraged on employment, which grew considerably in July.

In June 2021, the national unemployment rate stood at 14.4% and the urban unemployment rate at 17.1%, lower than the observed the same month last year, but much higher than in 2019. The seasonally adjusted unemployment rate remained relatively stable in June and the employment level was similar to that of October 2020.

In February, employment was boosted by the easing of mobility restrictions. By that month, 79% of the employment lost when it had deteriorated the most had been recovered. Its recovery is expected to continue and its pace will depend on economic growth, the progress of the pandemic and the measures to contain it.

In 2020, the behavior of the labor market was determined by the lockdowns. Employment fell by 6 million people during the worst period of the restrictions. Subsequently, the labor variables adjusted positively, without reaching, however, the levels observed before the covid-19

The labor market continued its recovery process in October, but it slowed down. Job creation was more related to the economic recovery and less to sectoral openings. Moving forward, the slow recovery of the labor market will continue

Consumption in Colombia had its maximum fall in April, since then it has gradually recovered with some ups and downs due to new strict quarantines implemented in some cities. Household consumption patterns have changed and a return to normality will depend on the recovery of the labor market.

In July, the pace of job creation moderated and the number of unemployed fell, reflecting the lack of dynamism in the labor force. As a result, the national unemployment rate fell from 20.8% to 19.8% between June and July.

Labor dynamics that began in May continued in June, at a slower pace, especially in the cities. The increase in labor supply seemed to moderate in June and less dynamism of employment (labor demand) was observed. The number of unemployed increased in June.