The State of Unemployment in Colombia
And Its Economic Effects
(Name of your institute)
1. Country and economic concern selected with brief explanation for choice (10 points): Latin American countries have been undergoing testing times in terms of economy and public welfare. Colombia is one such country that is facing severe challenges with its economy. One of the most pressing issues facing the country of Colombia is that of unemployment. Colombia is probably best known for its drug producing mafia. Its infamy impacts tourism and trade, despite Colombia being the second largest producer of coffee in the world. The unemployment, especially among the youth, acts like fuel to the fire with regards to Colombia’s economic uncertainty. The country itself does have the potential to have a stable economy and at least the minimum acceptable level of public welfare. It will be interest to analyze why the country is embroiled in warfare instead of welfare, which is why I have chosen it to be the topic of my research.
2. Relationships between selected economic concern and country? Economy/other variables (40 points):
According to the US Central Intelligence Agency’s (CIA) World Fact Book, Colombia had a total work force of about 21.27 million (2010 estimates). For a country whose population stood at 44,725,543 (2011 CIA estimates), this figure is abysmal. The unemployment rate is at 11.8% (2010 estimates). It is also important to note that nearly half of the country’s population (45.5% - 2010 estimates) lives below the poverty line. According to a CEPAL (United Nations Economic Commission for Latin America and the Caribbean) 17% of these are homeless. It is obvious that when a person remains unemployed for a long time, he or she cannot provide the bare necessities of life for their families. However, the high level of poverty in Colombia is not just attributed to unemployment alone but to the quality of work that those who are employed have. Nearly...
Citations: in correct APA format (20 points)
BBVA Research. (2011, March). Colombia Economic Outlook. Retrieved April 12, 2011, from http://serviciodeestudios.bbva.com: http://serviciodeestudios.bbva.com/KETD/fbin/mult/1102_ColombiaOutlook_16_tcm348-246552.pdf?ts=1242011
Frenkel, R., & Ros, J. (2005, September 7). Unemployment and the Real Exchange Rate In Latin America. Retrieved April 12, 2011, from http://www.depfe.unam.mx: http://www.depfe.unam.mx/actividades/11/macro-abierta/11-2_majr_03_frenkel_ros_2006.pdf
Project Mercy. (n.d.). Poverty in Columbia. Retrieved April 12, 2011, from www.projectmercy.com: http://www.projectmercy.com/columbia.html
US Central Intelligence Agency. (2011, March 9). The World Fact Book. Retrieved April 12, 2011, from www.CIA.gov: https://www.cia.gov/library/publications/the-world-factbook/geos/co.html#top
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