Colombia Research Paper
The State of Unemployment in Colombia
And Its Economic Effects
(Your Name)
(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. …show more content…
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 32% of those who state themselves to be employed do not have a formal work contract or access to a healthcare system while 48% hold informal jobs such as street vendors and garbage recyclers (CEPAL). So not only is the population of Colombia plagued with unemployment but those who are employed work in very low paying …show more content…
The upper class, which accounts for 20% of the population, accounts for about 75% to 80% of the Gross National Product (GNP). The rest of the 20% GNP is shared between the remaining 80% of the population. Being far richer than the masses, the elite class has access to education, healthcare and security. They also hold much political sway over the government and have the capacity to influence policies and laws. As the lowers strata of the society cannot afford something as basic as education, they remain trapped. in the depths of
And Its Economic Effects
(Your Name)
(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. …show more content…
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 32% of those who state themselves to be employed do not have a formal work contract or access to a healthcare system while 48% hold informal jobs such as street vendors and garbage recyclers (CEPAL). So not only is the population of Colombia plagued with unemployment but those who are employed work in very low paying …show more content…
The upper class, which accounts for 20% of the population, accounts for about 75% to 80% of the Gross National Product (GNP). The rest of the 20% GNP is shared between the remaining 80% of the population. Being far richer than the masses, the elite class has access to education, healthcare and security. They also hold much political sway over the government and have the capacity to influence policies and laws. As the lowers strata of the society cannot afford something as basic as education, they remain trapped. in the depths of