In the Ranking of Highest Unemployment in OECD Countries, Colombia Came in Fourth

Labor and Employment attorney Camilo Cuervo was interviewed by La República on the Organization for Economic Cooperation and Development's (OECD) study regarding unemployment trends, which highlights Colombia's structural headwinds despite the bloc's stable 4.9 percent rate. He cited near‑60 percent informality, stalled construction and manufacturing, declining foreign investment and policy uncertainty as drivers of quality job losses and weak formal job creation. Mr. Cuervo stressed that turning the tide will require rebuilding investor confidence, jump‑starting strategic sectors and addressing informality to catalyze formal employment.

"[A]nother factor is that we did not know how to take advantage of the 'rebound effect' generated by the post-COVID-19 opening. Other OECD countries did; in the face of the rebound of economic reactivation, they generated more and better employment," he said.

READ: In the Ranking of Highest Unemployment in OECD Countries, Colombia Came in Fourth