Colombia’s January Unemployment Rate Decreases to 11.6%

Colombia’s unemployment rate fell to 11.6% in January 2025 from 12.7% last year, while employment increased by 878,000 to 22.903 million. However, the labor force participation rate declined slightly to 65.7%, even as the employment rate rose to 58.4%.

In January 2025, Colombia’s unemployment rate registered at 11.6%, reflecting an improvement from 12.7% in January of the previous year. Despite this decline, the figure remains higher than the record low of 8.2% from November 2024, indicating fluctuations in the job market.

The labor statistics highlight that the employed population grew by 878,000, bringing the total number of employed individuals to approximately 22.903 million compared to the same period last year. This increase signifies positive momentum in employment opportunities across the country.

However, the labor force participation rate saw a slight decrease to 65.7% from 65.9% a year earlier, signaling a modest contraction in the working-age population actively participating in the labor market. In contrast, the employment rate experienced an increase, rising to 58.4% from 57.7%, which reflects a growing proportion of employed individuals among those participating.

In summary, while Colombia’s unemployment rate has improved from the previous year, it remains above historical lows. The increase in the employed population is a positive development; however, the slight decline in labor force participation raises concerns about broader economic participation. Overall, these labor market trends suggest a complex and evolving employment landscape in Colombia.

Original Source: www.tradingview.com