Spain, Colombia and Finland Lead OECD in Unemployment Rates

Labor and employment attorney Camilo Cuervo was cited in a La República article discussing the root causes of unemployment in Colombia within the context of the Organization for Economic Co-operation and Development (OCDE). Mr. Cuervo explained that declining competitiveness, political uncertainty and high labor costs have made Colombia less attractive for investment and business development. As a result, both entrepreneurs and investors are looking to other markets, which is negatively affecting job creation in Colombia.

"Colombia has one of the highest unemployment rates due to its heavy surcharge rates—which are among the highest in Latin America—as well as high payroll costs," he said.

READ: Spain, Colombia and Finland Lead OECD in Unemployment Rates