Colombia has by far highest unemployment rate in Latin America

Colombia had the highest unemployment rate in Latin America in 2011, according to a comparative study by the International Labour Organisation.

The results of the study were presented by the U.N. labor organization in Peru on Thursday.

Colombia, like most countries in Latin America, saw their unemployment rates drop compared to 2010 despite the ongoing European debt crisis.

Nevertheless, the 11.3% unemployment rate was 4.7 percentage points higher than the number two on the unemployment list, Venezuela.

Panama, Colombia’s neighbor to the north, had a 4.5 unemployment rate, the lowest of the continent.