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COLOMBIA - Unemployment Won't Quit

* COLOMBIA

Unemployment Won't Quit
This past year, there were 517,000 more unemployed in Colombia where unemployment reached 11.5%

The National Department of Statistics (Dane) said unemployment in Colombia continued to rise reaching 11.5% this past Oct., which translates into 2.5 million jobless persons. This has become the country's most serious social problem and reveals how the government's announcements about creating new sources of work have helped little. Poor performance in sectors such as the manufacturing industry and commerce have led to thousands of job losses in recent weeks. The most affected cities, which are also seeing an escalation in violence, are Pereira, with an unemployment rate of 21.9%, Quibo with 19.5% and Armenia with 18.2%. The revaluation of the peso and the coffee sector crisis are other factors which have affected the Colombian economy.
30-Nov-2009 08:11pm