‘A new year’s gift’: Petro celebrates new reduction in unemployment in Colombia

He National Administrative Department of Statistics (Dane) released its report on the labor market in Colombia for the month of November, revealing, among other figures, that the unemployment figure fell to 8.2%completing three consecutive months with this bearish trend.

Due to the above, the President Gustavo Petro celebrated this figure, calling it a “end of year gift“.

(You can read: For the third consecutive month unemployment fell in Colombia, in November it reached 8.2%).

He also highlighted the unemployment figures in the 13 cities of the country (8%) and in Medellín and its metropolitan area (7.4%).. This last figure was, in fact, the lowest among the 23 cities and metropolitan areas studied by Dane.

Likewise, the head of state also took the opportunity to explain that the decrease in these indicators marks a clear contrast with respect to projections made by different economic sectors and the opposition.

“The real minimum wage rose in 2024: 4.4% in real terms, and contrary to the thesis of the self-proclaimed experts of private television and the heads of employers’ unions, unemployment did not increase, but rather fell“, closed the president.

(Continue reading: The warning messages that the Petro government neglected in the increase in the minimum wage).

It is worth mentioning that Gustavo Petro has spoken repeatedly about the decline in key macroeconomic figures, such as the inflation and the monetary policy interest rate of the Bank of the Republic (although it is this last area that has requested greater speed in the reductions) as well as with the same performance of unemployment during the last three months.

CUT: ‘it is good news for the country’

After the Dane revealed the labor market data for November, the president of the Unitary Central of Workers of Colombia (CUT), Fabio Ariasassured that this is a “good news” for this end of the year in the country.

(Continue reading: The figures on which the Government based the decision to raise the minimum wage by 9.53%).

“The unemployment rate of 8.2% as of November, reported by Dane, is a great achievement of this Government and good news for the country“, said.

And he added: “(Sic) This is a denial of the irrational opposition of the big business community and the neoliberal technocracy, who do not want to recognize, in the performance of this Government, any achievement for the country, for the Nation and even for the economy.“.

PORTFOLIO