Economic & Financial Reporter

Nicaragua: Unemployment Grows in Construction

Topics::

Cámara Nicaraguense de la Construcción, Mario Zelaya, Central Bank of Nicaragua, unemployment rate, unemployment , Construction slowdown , construction, Employment, Infraestructure & Construction, Nicaragua

Source: laprensa.com.ni
Friday, July 3, 2009

During the last year and half, there has been a 40% loss in employment in the formal sector, and of that figure, 20% was from this year.
Estimates from the Nicaraguan Chamber of Construction (CNC, acronym in Spanish), composed of 45 active companies, indicate that at least 15,000 people, mainly laborers and job supervisors, lost their jobs since the beginning of last year.

Gisella Canales interviews Mario Zelaya, president of the CNC, in her article on Laprensa.com.ni: “Small companies in the Chamber are the ones that are most affected, there are many of them and there are few projects. The biggest companies are more prepared for the crisis. There are some that have gone five or six month without getting projects. They haven’t closed, but they aren’t operating.”

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