Note

May 30, 20 - 5:19 pm - LABS

Unemployment in Colombia reached 19.8%, its highest rate in history

In April, 5.3 million Colombian workers lost their jobs. The pandemic and preventive containment measures were more damaging to the labor market than it had been previously projected, reported La Republica.

According to the the country’s National Administrative Department of Statistics (Dane), the national unemployment rate reached 19.3% in April, which meant an increase of 9.5 percentage points compared to April 2019, and highest figure in official records.

Dane estimates that, of the 5.3 million unemployed in the country during April, 2.6 million were private employees and 1.7 million were self-employed. This scenario has a direct correlation with informality in Colombia.