Issue link: https://read.uberflip.com/i/1440672
19 Colombia 23,919 20,539 19,456 21,280 21,731 Q4 2019 Q2 2020 Q4 2020 Q2 2021 Q4 2021 10.2% 12.6% 15.8% 14.2% 12.1% Q4 2019 Q2 2020 Q4 2020 Q2 2021 Q4 2021 Q4 2021 Total Labor Force (000s) 24,722 Employed Workers (000s) 21,731 Unemployed Workers (000s) 2,991 Unemployment Rate 12.1% Working Population (in Thousands) Over Time Unemployment Rate Over Time 72% - First Vaccine Dose (December 2021) Covid Update Employers can not mandate vaccines. 30% 31% 10% 0% 25% 50% 75% Employer Tax Profit Tax VAT Colom bia Regional Average Other Cost Considerations - Tax Indicative Wages (USD) $370 $350 $1.36 $0 $5 $10 $0 $2,500 $5,000 Average Wage Manufacturing Wage Minimum Wage Colom bia Regional Average Labor Force Statistics 54% 53% 53% 51% 46% 30% 30% 29% 28% 24% 69% 69% 68% 67% 63% 0% 20% 40% 60% 80% 2016 2017 2018 2019 2020 15-24 years 65+ years Total Labor Force Participation Rate by Selected Age Group The President of Colombia recently announced that he expects a minimum wage increase of approximately 10%. Inflation is currently at 4.86% According to the National Administrative Department of Statistics, more than half of employees earned minimum wage or less last year. ILOSTAT Monthly Hourly Key Sources: https://wageindicator.org/ https://ilostat.ilo.org/ https://www.worldbank.org/ https://tradingeconomics.com/ https://home.kpmg/xx/en/home.html https://taxsummaries.pwc.com/ https://www.dane.gov.co