Find out why unemployment in the United States is among the lowest – sectors – the economy

In his weekly column, Quintas Claras, Mauricio Galindo, Economic Editor at EL TIEMPO, introduces strange characters about the news that happened in the past seven days. On this occasion, figures on how income has developed in Colombia in the midst of the pandemic, the countries with the highest inflation, where wages have increased the most, and the real employment situation in the United States, among other countries.

(Read also: Pension: The amendment is to the minimum wage for 2022)

The country’s income is higher than it was before the pandemic

National income, which is not officially measured in Colombia, shows what the country’s residents receive. Francisco Azuero, Professor of the Andes, I’ve loved him for several years.

According to his calculations, in 2021, the national income was already 2.3 percent higher than in 2019 (pre-Covid), taking into account incoming remittances, profits received by TNCs and prices for products exported by the state.

Inflation champions in the region

To calculate how prices will rise in the Americas and the Caribbean, the Economic Commission for Latin America and the Caribbean (ECLAC) Eliminates four countries distort accounts. These are Argentina, Suriname, Venezuela and Haiti.

The annual inflation rate in Haiti until September was 12.1%, and a year earlier it was 25.2%. in a Argentina It rose from 35.2 percent to 51.7 percent. In Suriname, the percentage rose from 45.1% to 59.8%. Outside of this category, it continued to rise in Venezuela, going from 1,813 percent to 1,946 percent.

Biggest real wage increases

Despite the acceleration in consumer prices, in the past year, through September, average employee wages rose in real terms, according to a report from the Economic Commission for Latin America and the Caribbean.

In Colombia, that annual increase was close to 7 percent, and was the highest for a group of 12 countries. El Salvador follows, with an increase of just over 4 percent. In contrast, real wages in Brazil fell by more than 6 percent.

Unemployment in the United States has returned to low levels

Unemployment in the United States is approaching the historically low levels seen under Donald Trump. In December it fell to 3.9 percent. At the end of Trump’s term, unemployment reached 3.5 percent.

The lowest unemployment rate was recorded in the United States. In May and June 1953 it was 2.5 per cent. The highest was 10.8 percent, occurring in November and December 1982.

Mauricio Galindo
Economics Editor
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