Medellín has positioned itself as the third city in Colombia with the lowest rate of labor informality, according to a recent report from the National Administrative Department of Statistics (DANE). In the quarter between June and August 2024, the informality rate in the city and its metropolitan area stood at 37.6%a notable decrease in 1.3 percentage points compared to the same period of the previous year.
This decrease in labor informality in Medellín is a positive indicator in the context of the Colombian labor market, where many cities face significant challenges in terms of formal employment. The city ranks only behind Bogotá and Manizales in terms of labor formality, which highlights a more favorable and stable economic environment.
The characteristics of the labor market in Medellín have been identified as key to this success. The local economy is mainly oriented towards the industrial and financial services sectors, where formal employment tends to be greater. This focus on sectors with a strong professional and technical services component has contributed to the creation of jobs that comply with labor regulations, which in turn reduces the rate of informality.
Benefits of formal work
Marlen Yusuga, a resident of Cañasgordas, shared her life experience after leaving her home more than ten years ago due to violence. Currently, he is dedicated to selling products, an activity that has allowed him to support his family and provide his children with the opportunity to finish their studies. “I have worked hard, and this has helped me so that the boys finish at least high school,” he expressed. Its story reflects the efforts of many people who, although they are in the informal economy, struggle to improve their quality of life.
The increase in formality not only benefits workers in terms of social security and labor rights, but also has a positive impact on the local economy. When workers are formalized, they contribute to the health and pension system, generating a virtuous circle that can further strengthen the regional economy.
Despite the achievements, challenges still exist. Labor informality continues to be a problem in several areas of the city, especially in sectors such as construction and personal services, where working conditions can be unstable. It is crucial that authorities continue to implement effective policies that encourage the creation of formal jobs and ensure that labor rights are respected.
2024-10-14 23:24:00
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