The women were the big winners in job creation in May. According to Dane, 383,000 jobs were created in the fifth month of the year, reaching a employed population of 22.56 million.
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Of that total, 380,000 were recovered by female labor and only 3,000 by men, meaning that 99 percent of job creation was thanks to women.
However, the gap is still wide. The unemployment rate for men was 8.4 percent and that for women was 13.2 percent, with which the difference is 4.9 points.
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The unemployment rate for men was 8.4 percent and that for women was 13.2 percent, with which the difference is 4.9 points.
In May, the national unemployment rate was 10.5 percent, which meant a variation that is not statistically significant compared to the data of 10.6 percent reported in the same period last year. “This growth, although positive, is the continuation of a trend of lower job creation compared to previous months,” said Andrés Felipe Medina, an economist at BBVA Research.
And if you look at the seasonally adjusted rate -the one that allows you to make comparisons month by month-, you can see how unemployment in May (10.5 percent, also in seasonally adjusted terms) fell 0.2 points compared to the data for April, which was 10.7 percent, according to the Dane.
According to Anif, These figures show a slowdown in the recovery of employment. “We believe that in the coming months it is likely to even show a deterioration in the rate given a low dynamic in the generation of jobs that coexists with forecasts of a slowdown in economic activity,” said the center for economic studies led by Mauricio Santa María. .
Meanwhile, the number of unemployed was 2.64 million, which represents a drop of 3,000 people compared to the figure for the same period in 2022. And the inactive population or that is outside the labor force was 14, 26 million people, which means an increase of 166,000 compared to the data for May of the previous year.
Trade is one of the great generators of employment.
Five branches lose jobs
He vehicle trade and repair It was the branch of activity that recovered the most jobs in May, with 356,000 more people working. It was followed by the manufacturing industry, with the employment of 213,000 people, and the lodging and food services sector, where 136,000 people entered.
For its part, the transport and accommodation sector had 78,000 more jobs; that of information and communications, 76,000, and the branch of professional and scientific activities added 27,000 new jobs. In financial activities there were 24,000 more jobs, and in real estate activities, another 24,000.
On the other hand, there are 5 branches that lost jobs in May. The sharpest drop was in artistic activities, where 195,000 jobs were lost, compared to the same period in 2022.
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It is followed by public administration, defense, education and health, with 134,000 fewer jobs; in agriculture they hired 93,000 fewer people; the drop in construction was 82,000 people, and that of the electricity supply branch, 30,000 less.
In agriculture they hired 93,000 fewer people. I
EFE/ Jessica Martorell
“The slowdown in the economy is not allowing employment to be created faster than it is being destroyed. We are in a year of transition from an economy that did too well last year. This gives us so that the unemployment rate will surely continue in the order of between 10 and 11 percent throughout the year with some sectors that have been much better than others,” said Sergio Olarte, chief economist at Scotiabank Colpatria.
The cities with the highest and lowest unemployment rate
In the rolling quarter between March and May 2023, the cities with the highest unemployment rates were Quibdó and Ibagué, with 25.4 and 17.7 percent, respectively. They were followed by Florencia (15.4 percent), Riohacha (14.9 percent) and Valledupar (14.3 percent).
On the contrary, the lowest unemployment rates were reported in Bucaramanga, with 9 percent, and Santa Marta, with 9.1 percent. Also Medellín (9.4 percent) and Tunja (9.4 percent).
