Unemployment speaks for itself about the condition of a country
Hello friends of Project HOPE, good start to the month for everyone. Today I want to tell you about something that is happening in Colombia, yes, I am talking about this country because this is where I live and it is where I read information from to be able to be in context with what is happening, and recently the [(DANE)](https:/ /www.dane.gov.co/) announced the unemployment data and these are not good at all, to tell the truth, they are quite bad.
To be exact, and verbatim to see what they announced, I will share with you the verbatim words of this Colombian institution that is in charge of keeping control of what economic matters occur in the country:
"For the month of August 2024, the unemployment rate of the national total was 9.7%, while in August 2023 it was 9.3%. "Source
As you can see, the unemployment rate increased compared to last year, something that does not speak well of how the country's economy is doing, and not only that, but the informal employment rate increased, which increases a problem that is already coming. very present here and that is causing havoc in many aspects.
This increase is not only a reflection of the country's economic slowdown, but also an indicator of how working conditions in general are deteriorating. The most worrying thing is that not only is formal unemployment growing, but the informal employment rate is also increasing, which represents an additional problem with repercussions in multiple areas.
I insist on saying: Unemployment speaks for itself about the condition of a country
Unemployment is, without a doubt, one of the clearest and most tangible indicators of the state of an economy. An increase in the unemployment rate not only means that more people are losing their jobs, but also reflects the inability of the economic system to generate quality jobs and real opportunities for its citizens.
In Colombia, unemployment has historically been a recurring issue, but in recent years, it has taken on a more serious tone due to various factors such as the global economic slowdown, the increase in informality, the lack of effective public policies, and a context unstable political situation that has impacted business confidence. The fact that the unemployment rate has increased from 9.3% to 9.7% in one year is worrying, but it is even more so if we consider that a large part of the jobs generated in the country are informal.
Informality, which continues to grow by leaps and bounds, is a problem that cannot be ignored. This means that many people, although they are "employed", are under precarious conditions, without access to social security, without legal contracts, and with unstable income. This not only affects families in terms of economic well-being, but also limits their access to basic services such as health and education, perpetuating a cycle of poverty.
I don't want to be hopeless, but the reality is that in this Latin country, as well as many others that are in the same underdeveloped condition, the future does not look very good. Greetings, good start to the month.
It is a worrying issue, because as you say, it can degenerate into a vicious circle that tends to make the whole situation worse.
I was looking at a couple of information sites on the subject, and I noticed that although Colombia has a percentage that worries me, the situation can still be considered not as bad as in other countries on the lists:
Although this issue should always be of concern, even if the percentage estimate seems low.
In fact, if we compare Colombia with other countries, such as the Republic of the Congo, we surely realize that it is not bad at all, but even so, it is still a fairly high level. Thanks for sharing those links, I see that they correspond to the data recently updated in Colombia.
You're welcome!