COLOMBIA: Jobless Rate Drops To Lowest Since December

(RTTNews) - Colombia's unemployment rate in June decreased to 8.7% - the lowest level since December 2016 -, from 9.4% in May, according to the country's statistics institute. After seasonal adjustment, Colombia's June jobless rate was at 9%, down from 9.5% in May.

The unemployment rate dropped even after an increase in the participation rate to 65.2% - the highest level since last November, meaning that the jobs market is absorbing people entering the labor force and looking for employment.

The employment rate stood at 59.5% in June - also the highest level since November - up from 58.1% in the previous month. The national unemployment rate for the April-June quarter was 9.0%, up from 8.9% in the same period a year before.