Nicaragua: Unemployment Grows in Construction

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.

Friday, July 3, 2009

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 “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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From a statement by the Costa Rican Union of Chambers and Associations of Private Business Sector (UCCAEP):

Unemployment Stands at 7.1% in El Salvador

October 2011

Almost 30% of the economically active population is underemployed.

The Salvadoran government has announced that the unemployment rate reached 7.1% in July. While the figure is less than in the U.S., where 9.1% of active people can not find work, it is in line with the level of unemployment in other countries in Central America.

Construction Industry Shrinks 38% in Honduras

April 2010

The Central Bank of Honduras also reported that 40.000 jobs have been lost in this sector of the economy.

Juan Carlos Sikaffi, president of the fair “Expo Construction 2010” (Expo Construye), blamed the global financial crisis.

He also commented on other problems: “the government owes constructors $69 million (1.300 million lempiras), and President Porfirio Lobo received the country in bad financial shape, and has so far been unable to invest anything in construction”.

Construction Falls 20% in Nicaragua

October 2009

This year, the construction industry will contribute $60 million less to the country's Gross Domestic Product (GDP).

On average, this industry contributed some $400 million to the nation's GDP each year. However, estimates for 2009 put it at $340 million.

"This somber scenario is further worsened by the loss of 7.000 jobs so far this year, which may not be recovered, said Mario Zelaya, President of the Nicaraguan Construction Chamber, to newspaper La Prensa".

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