(Reuters) – BOGOTA, June 30 (Reuters) – Colombia’s urban unemployment rate declined to 16.6% in May from 24.5 percent the previous month, according to the official statistics agency, which based its findings on polls in the country’s 13 largest cities.
According to the DANE agency, the national unemployment rate was 15.6 percent, down from 21.4 percent a year ago.
Financial markets pay more attention to the unemployment rate in cities than to the national average. Large cities employ over 70% of the workforce.
Unemployment figures are not adjusted for seasonality and can be variable, depending on factors such as peak shopping seasons and vacation months.
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Unemployment in Cities Across the Country Unemployment
15.6 percent in May 16.6 percent in May 15.6 percent in May 15.6 percent in May 1
17.4 percent in April, 15.1 percent in May
14.2 percent in March, 16.8 percent in February, and 16.8 percent in January.
(Bogota newsroom reporting; Marguerita Choy editing)/n
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