Colombia Jobs Diagnostic : Structural Challenges for the Creation of More and Better Jobs / Eliana Carranza [and three others].

Format:

Book

Author/Creator:

Carranza, Eliana, author.

Series:

Jobs Series ; 30

Language:

English

Subjects (All):

Employment (Economic theory).

Job creation.

Labor market--Colombia.

Labor market.

Physical Description:

1 online resource.

Other Title:

Colombia Jobs Diagnostic

Place of Publication:

Washington, D.C. : World Bank, 2022.

Summary:

In mid-2020, the Government of Colombia launched a labor reform consultation process (Misión de Empleo) in response to a deterioration in pre-Covid19 employment indicators and changing economic and labor market conditions. Based on a comprehensive review of Colombia's labor market performance for the 2009-2019 period, this report seeks to provide analytical underpinnings to this process. At the macro level, the report shows that employment in Colombia is insufficiently diversified relying almost exclusively on job creation in the services sectors. This exposes the labor market to cyclical changes in internal demand that are typical for commodity rich economies like Colombia. At the worker level, the report shows that the economy generates too few formal employment opportunities for those with fewer skills and those living in rural areas, implying low earnings, high rates of self-employment, and high levels of informality. At the firm level, the reports shows that the labor regulatory regime has contributed to strong increases in labor costs with important effects on entry and exit dynamics of firms contributing to a compositional shift towards larger, more capitalized, and more skill-intensive firms.

Notes:

Description based on publisher supplied metadata and other sources.

Publisher Number:

10.1596/37403