Colombian unemployment fell to its second lowest level in ten years in May, according to the Colombian Bureau of Statistics (DANE).
Dane reported that Colombia’s overall unemployment rate this May was 11.3% down from 12.1% last year. 92,000 fewer Colombians reported being out of work.
Underemployment remains a concern with this years figures only falling from 32.8% to 31%.
Employment rates are uneven across the country. Dane reported that unemployment is high in cities like Ibague and Popayan, with unemployment rates of 17.9% and 17.3% respectively, and low in San Andres and Barranquilla, which are estimated at 6.3% and 7.8% respectively. Bogota is slightly better than average with a rate of 9.9%.
Colombia’s economy is expected to grow by a rate of 4.15% this year, according to the central bank. Inflation last year was estimated at 3.4%.
