For the third consecutive month, job unemployment increased; several sectors were affected, including agriculture, livestock, services and health.
On the eve of International Labor Day, the director of the National Administrative Department of Statistics (DANE), Piedad Urdinola, reported that the unemployment rate for the national total in March 2024 reached 11.3%, which represents an increase of 1.3 percentage points (pp) compared to the same month of the previous year (10.0%). This increase is statistically significant.
In turn, in March 2024 there is a decrease in the Global Participation Rate (GPR) of 0.4 percentage points, going from 64.3% to 63.9%. A drop of 1.2 pp was also recorded in the Occupancy Rate (TO), since in March 2024 it stood at 56.7% compared to 57.9% in March 2023. For its part, in the 13 cities and metropolitan areas there were very slight increases in the aforementioned rates and in the unemployment rate.
Regarding the gender gap, an increase of 0.5 percentage points was recorded, going from 5.0% (March 2023) to 5.5% in March 2024. The unemployment rate among women increased 1 .5 pp, while that of men rose 1.0 pp
Regarding the employed population, a decrease of 0.7% was experienced in the national total. In the other headings there was a significant variation of -4.2%, with a contribution of -1.1 percentage points. On the other hand, in the 13 cities and metropolitan areas a positive variation of 1.5% was recorded, with a contribution of 0.7 pp
Agriculture, livestock, hunting, forestry and fishing was the branch of economic activity that showed the greatest decrease in the employed population, followed by accommodation and food service; and for public administration and defense, education and human health care. In contrast, electricity, gas, water supply and waste management recorded the largest increase in the number of employed people.
Although some activities such as electricity supply, commerce and transport registered an increase in employability, it is not enough to counteract the increase in unemployment in the last two months.
The unemployed population nationwide increased by 339 thousand people in March 2024, compared to the previous year. This growth presented significant variations in the national total and in other headings with 13.3% and 33.3%, respectively.
Likewise, the population outside the labor force had an increase of 382 thousand people and a variation of 2.7% in the third month of 2024, compared to the same month of 2023. Also the Other Headers domains and that of 10 cities (which includes Tunja, Florence, PopayanValledupar, Quibdó, Neiva, Riohacha, Santa Marta, Armenia and Sincelejo) presented significant variations of 5.8% and 3.9%, respectively.
Regarding labor informality, although it is true that it had a slight decrease, it still remains above 55%. For the moving quarter, an informality rate of 56.3% is reported, which represents a decrease compared to the 58.2% registered a year ago.
According to the director of DANE, these figures reflect the challenges that the country faces in terms of employment. She added that this situation will continue to be monitored so that the necessary measures are taken to boost jobs in Colombia.