Unemployment rate in August, the best month in the last two years

Unemployment rate in August, the best month in the last two years

The last report of the National Administrative Department of Statistics, Dane, showed that the unemployment rate in August was 10.6%. The entity reported that the number of unemployed was 2.63 million for a reduction of 401,000 fewer people.

(Read: There is concern about the minimum wage due to rising rates and inflation).

By sex, the unemployment rate for men was 8.9 percent, while for women it was 13.8 percent. In this sense, the reduction of the unemployed population in August 2022 it was higher in men (-217,000) than in women (-184,000).

At the national level, the employed population reached 22.2 million, which means that there were 1.5 million jobs more than in the same period of the previous year, when the figure was 20.5 million.

This rate shows a significant recovery in the labor market and is positioned as the best figure in the last two years. For August 2021, a unemployment of 12.9% and 3.03 million of unemployed people in the country.

In that case, the reduction was also important. Of 2.4 million jobs lost in August 2020, almost 2 million jobs were recoveredas Juan Daniel Oviedo, director of Dane, explained at the time.

This was equivalent to an 82.5% recovery from August of the previous year. However, the gender gap increased by 2021. Female unemployment was 28.4% between June and August of that year. Namely, more than twice the national unemployment rate.

(Also: Lack of work experience drives young people away from formal jobs).

The figure for 2020 is more alarming as it registered unemployment of 16.8% marked by the covid-19 pandemic. In 2019 the unemployment rate was 10.8%.

The gender gap for 2020 was critical, with a female unemployment rate of 36.2%. On the other hand, the cities with the most unemployment in that year were Neiva, Ibagué and Popayán.

By 2021 they were Cali, Medellín and Bogotá. This year, in August, they were Quibdó, Ibagué and Valledupar.

The advance of unemployment in 2022


Alexis Munera. TIME

For the beginning of this year, in January, the unemployment rate was 14.6%, men 11.2% and women 19.4%. This involved a reduction of 2.9 percentage points compared to the same month in 2021.

In February unemployment decreased to 12.9%, men 10.3% and women 16.5%. A reduction of 2.6 percentage points from the same month last year. In March, the variation was much lower and unemployment reached 12.1, 9.6% for men and 15.6% for women.

In April the rate was 11.2%, a reduction of 4.3 percentage points compared to the same month in 2021. Among men it was 8.9% and women 14.2%. In May unemployment was 10.6% with a reduction of 4.6 percentage points compared to last year.

(Keep reading: 85% of workers in microenterprises in the country are informal).

For June saw an increase in unemployment breaking the downward trend and the rate was 11, 3%. However, there was a decrease of 3.4 percentage points compared to 2021.

Finally, in July of this year the figure was 11%, 8.8% for men and 13.9% for men with a reduction of 2.1 percentage points from the same month in 2021. Results that show that throughout the 2022 the trend has been downward, except for the month of June.


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