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The unemployment rate in Colombia fell to 10.3% in February 2025, down from 11.7% in the same month last year, although rebounding further from the lowest level since late 2015 of 8.2% in November 2024. The employed population increased by 977,000 reaching 23.469 million year-on-year. The labor force participation rate decreased to 64.7% from 63.8% a year earlier, while the employment rate rose to 58.0% from 56.4%.

https://tradingeconomics.com/colombia/unemployment-rate

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Unemployment Rate in Colombia decreased to 10.30 percent in February from 11.60 percent in January of 2025. This page provides the latest reported value for - Colombia Unemployment Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

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Fran, Marti and Ele

Globalization can cause job losses as companies move to cheaper countries . In Nigeria, it created jobs, but many were low-paying and unstable. It also increases inequality.

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Although globalization can improve productivity, investment, and growth, it may not benefit employment and even reduce the earnings of workers. The recent experience of Argentina fits well with this perspective. Following privatizations and trade liberalization, the economy experienced a sharp process of capital deepening and growth without net job creation. While output has grown by about 40 % over the last six years, unemployment has increased from 8 to 18 % during the same period.

https://cdi.mecon.gob.ar/bases/docelec/dp1110.pdf

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Using the data that Antoine Bertheau brings to me, I can say that Globalization leads specially to Job displacement, where the earnings of displaced workers from southern Europe (Italy, Spain, and Portugal) are around 30 percent lower than their predisplacement levels. Need to be mention that Austrian workers experience earnings losses in between those of the Scandinavian and southern European countries, while French workers experience losses more similar to those of Scandinavian workers.

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https://antoinebertheau.com/uploads/1/0/4/1/104122340/bertheau_acabbi_barcelo_gulyas_lombardi_saggio_aer_insights_job_loss.pdf

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Lucas

There is a growing availability of goods and services that can be traded on the global market. Transport efficiency has increased significantly because of innovations and improvements in the modes and infrastructures. As a result, the transferability of commodities has improved.

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Evidence for Globalization’s Growth

• Technology: Advances in communication and transport enable faster trade.

• Trade liberalization: Fewer barriers allow more international commerce.

• Multinational corporations & financial markets: Businesses and capital operate globally.

• Cultural integration: Western values and lifestyles spread worldwide https://researchfdi.com/the-effects-of-globalization-on-economic-development/

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The effects of globalization on economic development - ResearchFDI

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Explore the effects of globalization on economic development and strategies for governments to adapt and thrive in a globalized economy.

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1. Economic Growth and Resources

Globalization allows access to a diverse workforce and essential resources, boosting production efficiency.

2. International Cooperation

Stronger economic and cultural ties reduce conflicts and encourage peaceful relations.

3. Innovation and Technology

Global knowledge exchange accelerates advancements in medicine, IT, and environmental protection.

4. Market Expansion and Jobs

Companies reach global markets, increasing profits and creating more job opportunities.

5. Efficiency and Lower Costs

Economies of scale reduce production costs, leading to lower consumer prices.

By Pili, Pato anda Salva

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What Is Globalization in Business? | HBS Online

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Globalization is the increase in the flow of goods, services, capital, people, and ideas across international boundaries. Learn more about global business.

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1. Trade Growth: Global trade has grown over 300% since the 1990s due to reduced trade barriers. (World Trade Organization, 2023. “World Trade Report.”)

2. Employment Impact: While 300 million new jobs have been created globally, industrial shifts have displaced millions. (World Bank, 2022. “Global Employment Trends.”)

3. Economic Growth: Countries with open trade policies grew twice as fast as those with protectionist policies. (World Bank, 2023. “Global Economic Prospects.”)

4. Developing vs. Developed Countries: Emerging economies now contribute 40% of global GDP, compared to 20% in 1990. (World Trade Organization, 2023. “World Trade Report.”)

https://www.worldbank.org/ext/en/home

https://www.economist.com/finance-and-economics/2019/11/28/its-the-end-of-the-world-trade-organisation-as-we-know-it?utm_medium=cpc.adword.pd&utm_source=google&ppccampaignID=19495686130&ppcadID=&utm_campaign=a.22brand_pmax&utm_content=conversion.direct-response.anonymous&gclsrc=aw.ds&gad_source=1&gbraid=0AAAAADBuq3Kg8hVwmUJgKeodzLOa-Sn53&gclid=CjwKCAjw47i_BhBTEiwAaJfPptLrG6M6hHyOZQ_w8e9OHaIOAOD1AhqALB7BuG4XDP_Vgh_SiaS9nhoCNmkQAvD_BwE

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Studies suggest that globalization may contribute to income disparity and inequality between the more educated and less educated members of a society. This means that unskilled workers may be affected by declining wages, which are under constant pressure from globalization.

Martu and Vico

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Globalization has led to increases in standards of living around the world, but not all of its effects are positive for everyone.

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Taking into account world bank studies. Inflation rose to 9% in February 2010, from 2.2%in June 2009. This sharp increase was driven by food inflation arising from a shortfall in domestic rice production, rising world food prices, and high food inflation in India. Non-food inflation also rose, from 3.7% in July 2009 to 6.1%in February 2010.

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https://www.worldbank.org/en/news/feature/2010/05/17/2010-bangladesh-economic-update

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Polo

The evidence that openness to trade and investment is good for economic growth is compelling and goes back several centuries. We can see this effect not only in the multi-country econometric analyses¹–⁴ but also in the recent experiences of individual countries. China, India, Uganda, and Vietnam, for example, have all experienced surges in economic growth since liberalising their trade and inward investment policies. Because gross national product per capita correlates so strongly with national health status,⁵–⁷ we can conclude that, in general, openness to trade improves national health status.

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Globalisation is good for your health, mostly

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We live in extraordinary times. Since December 1999 in Seattle, every meeting of the leaders of the World Trade Organisation, the World Bank, the International Monetary Fund, and the world’s richest nations (the G8) has been met by increasingly large and violent demonstrations against global processes that are manifestly beneficial. The protestors comprise such a diverse array of groups and opinions that it is impossible to capture their message in a single phrase (how simple were the anti-Vietnam war protests by comparison). The central theme of the protests is discernible, however, and is something like: “Increasing global economic and social integration is a conspiracy by the rich and powerful to exploit the poor and underprivileged.”

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https://www.chicagofed.org/publications/chicago-fed-letter/2007/march-236

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Globalization and the Benefits of Trade - Federal Reserve Bank of Chicago

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The following publication has been lightly reedited for spelling, grammar, and style to provide better searchability and an improved reading experience. No substantive changes impacting the data, analysis, or conclusions have been made. A PDF of the originally published version is available here.

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Thereis evidence that trading globally benefits economies through increased efficiency, lower prices, and more competition. It also helps countries participate in the global economy. 

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Tote and lucas

https://www.avekon.org/papers/1374.pdf