Costa Rica: Unemployment Rate Remains at 22%

In the current scenario of economic crisis, during the mobile quarter from August to October 2020 the unemployment rate at the national level was 21.9%, a proportion similar to the 22% reported from July to September.

Friday, December 4, 2020

The National Institute of Statistics and Censuses (INEC) reported that for the August, September and October 2020 moving quarter, the population of 15 years old and older with an incidence of labor due to the effect of Covid-19 was 1.13 million people (28.3%). The incidence of labor in the labor force was estimated at 981,000 people (40.8%). A total of 474,000 employed people (25.2%) have some incidence of the pandemic in the workplace. Of the unemployed, 507,000 people (96.3%) were affected in their search for employment. Finally, the labor incidence caused by the emergency affected about 154 thousand people (9.6%) outside the workforce.

Check out the "System for monitoring markets and the economic situation in Central American countries", developed by CentralAmericaData.

Official figures indicate that in the first quarter of the year, 63 out of every 100 people of working age participated in the labor market. In the May, June and July 2020 quarters, the value reached its lowest level with 57 of every 100 people of working age, and began a slight recovery to reach 60 of every 100 people in the August, September and October 2020 quarters.

The report notes that "... the employment rate in the first quarter represented 55 out of every 100 people of working age with a job, once the pandemic was declared at the end of March, the situation in the market reflected a contraction of employment reaching the lowest value in the quarter May, June and July 2020, where 43 out of every 100 people of working age had a job, and is gradually increasing to 47 out of every 100 people of working age in the last published quarter."

The unemployment rate in the first quarter of the year meant that 13 out of every 100 people in the workforce were unemployed, the highest value is obtained in the quarter May, June and July 2020 with 24 unemployed people for every 100 people in the workforce, and begins a slight recovery to reach 22 unemployed people for every 100 in the workforce, the document adds.

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