El Salvador Lost 5.000 Jobs in 4 Months

Despite a mild recovery in some sectors, the economy has shredded 5.000 jobs in the first four months of the year.

Friday, July 23, 2010

Carlos Acevedo, president of the Central Bank of El Salvador (BCR), noted that the figure is an improvement when compared to the same period of 2009, when the economy lost 40,000 jobs.

According to Acevedo, the employment market will recover no earlier than October 2010. He also commented that the economic recovery has been “slow” and that they expect the economy to grow 1% this year.

More on this topic

Guatemala: Economic Recovery Uncertain

July 2010

The latest business survey carried out by Asies reveals that expectations of a recovery in the second half of 2010 have been postponed to 2011.

In the previous survey from the Association for Investigation and Social Studies (ASIES) the perception was that the Guatemalan economy would recover in the last six months of this year.

El Salvador: 39.000 Jobs Lost in 2009

August 2009

Industry and the private sector are the most affected, according to the Salvadoran Social Security Institute.

Victoria de Avilés, Labor Minister, remarked that "there is a loss of jobs, and by the end of the year it could increase to 55.000...".

"Job losses has been exacerbated by the economy's 'low dynamism', with sectors like commerce reporting considerable less sales", publishes Laprensagrafica.com.

Salvadoran Tourism Lost 1.300 Jobs

August 2009

Most of the jobs lost have been in the transport, restaurant and hospitality sector.

Stats from the Salvadoran Social Insurance Institute show that 42.444 people worked in the tourism sector in 2008. This number stands now at 41.064 workers, a 3.3% drop.

"Jobs in the food and beverage sector have adjusted to reality, as restaurants have now less customers", said Pedro Dalmau, president of the Restaurants Association of El Salvador, when interviewed by newspaper La Prensa Gráfica.

More unemployment for Nicaragua

December 2008

Official figures show that in the Free Zone sector alone, Nicaragua lost some 19 thousand jobs.

This is a result of the closure of some factories that have decided to leave the country due to problems related to high operational costs.

Adolfo Acevedo, economist, said that the Nicaraguan economy is generating what is called informal jobs which only allows for poor quality of work.

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