In August, the labor market registered improved figures again, as the national unemployment rate fell by 2.3 percentage points in relation to the same month last year, and went from 12.9% to 10.6%.
(Unemployment rate in August, the best month in the last two years).
The good results were also reflected in the employment figures, since in the eighth month of the year the Colombian population in this condition reached 22.16 million people, and 1.58 million recovered of jobsGarlic compared to the data for August 2021, which was 20.5 million employed nationwide.
Of those jobs recovered, 1.11 million jobs were provided by women, while men recovered 468,000 jobs. This implies that the female population represents 70.5% of the jobs that were recovered.
It is worth remembering that the Dane considers as employed those people who, during the week prior to the collection of information, worked at least 1 hour in exchange for monetary or in-kind income, or worked at least 1 hour without receiving payment as unpaid family worker. Or also, those who did not work (due to vacations, leave, etc.), but had a job or business.
According to Dane, the sectors in which jobs recovered the most in relation to August 2021 were the trade and repair of vehicles, with 372,000 additional workers, for a total of 4.07 million. The public administration and defense, education and health sector, which recovered 300,000 employees and today employs 2.76 million, and the artistic and entertainment sector, with 203,000 additional workers compared to 2021, and a total of 1.8 million .
Jackeline Piraján, an economist at Scotiabank Colpatria, reiterated that the sectors associated with services, entertainment and commerce continue to be the ones that are releasing the most opportunities and jobs.
“In terms of the female and male population, we see that above all it is women who are finding a higher proportion of employment opportunities, specifically in this service sector, while for men the greatest opportunities are found in the manufacturing industry, One positive thing to highlight is that compared to last year we have also made progress in terms of formality,” said Piraján.
In the case of the employment rate, this stood at 69.5% for men in August, while for women it was 45%. Likewise, while the overall male participation rate stood at 76%, the female rate reached 51.9% in August.
“We see that there is a large gap in the labor supply measured by the global participation rate, in the same way somewhat lower in the employment and unemployment rate,” explained the director of Dane, Piedad Urdinola.
(The app that companies use to collect data from their consumers).
Unemployed and out of the labor force
The Dane also announced that in August there were a total of 2.6 million unemployed in the country, which represented the exit of 401,000 people from unemployment, while in August 2021 there were 3.03 million unemployed in Colombia. .
María Claudia Llanes, an economist at BBVA Research for Colombia, highlighted that, “in seasonally adjusted terms, comparing July 2022 with August 2022, the unemployment rate remained relatively stable at both the national and urban levels.” The unemployment rate for the main 13 cities and metropolitan areas, which fell 2.5 pps, to 10.8 for the reference month.
For women, the unemployment rate in August stood at 13.3%, while a year ago it was 16.5%, this implies a difference of 3.2 pps. On the men’s side, the unemployment rate fell by 1.7 pps compared to August 2021, going from 10.4% to 8.7%.
The labor market also showed a reduction in the population outside the labor force, those who are of working age but not employed, but also not looking for work, also showed a reduction, going from 14.8 million people to 14.2 million, that is, 630,000 fewer citizens.
Laura Lucia Becerra Elejalde