Unemployment in Colombia
Colombia's unemployment rate from 2013 to 2022 was moderately high, reflecting ongoing issues like informal employment, modest economic growth and regional disparities. The COVID-19 pandemic in 2020 significantly increased unemployment, exacerbating existing labor market vulnerabilities. By 2022, as the economy recovered, unemployment rates began to decrease, but the country continued to face challenges in creating quality jobs and reducing informality in the labor market.
The unemployment rate in Colombia averaged 11.0% in the decade to 2022, above the 8.2% average for Latin America. The unemployment rate in Colombia was 11.2% in 2022. For more unemployment information, visit our dedicated page.
Colombia Unemployment Chart
Note: This chart displays Unemployment Rate for Colombia from 2014 to 2023.
Source: Macrobond.
Colombia Unemployment Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Unemployment (% of active population, aop) | 10.9 | 16.7 | 13.8 | 11.2 | 10.2 |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Colombian unemployment projections for the next ten years from a panel of 30 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable unemployment forecast available for Colombian unemployment.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Colombian unemployment projections.
Want to get access to the full dataset of Colombian unemployment forecasts? Send an email to info@focus-economics.com.