In August 2023, Colombia reported a decrease in its unemployment rate to 9.3 percent, down from 10.7 percent a year earlier. This marks the lowest jobless rate since June 2019, meeting the expectations of market analysts.
More Colombians Gain Employment
The number of Colombians with jobs saw an increase of 717,000, bringing the total employed to over 23 million. This growth reflects a slight improvement in the employment rate, which edged up to 64.2 percent.
Increased Workforce Participation
The workforce participation rate also showed positive movement, climbing to 58.3 percent from 57.2 percent the year before, indicating more people are active in the job market. These figures were provided by Dane, Colombia.