For the moving quarter from November 2020 to January 2021, the unemployment rate in the country decreased to 19%, which is slightly lower than the 20% reported for the period from October to December last year.
For the quarters from the first quarter (January to March 2020) to the last available quarter, the country has experienced a situation in the labor market that has generated significant impacts in the main indicators, as a result of the measures that generate restriction to the labor market and the labor situation caused by the Covid-19 health emergency, informed the National Institute of Statistics and Census (INEC).
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.
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.
The Executive Branch endorsed the new law that allows companies to temporarily reduce the working hours agreed with their employees, in the context of the crisis generated by the covid-19 virus.
On the morning of March 21, the deputies gave the second debate with 47 votes and unanimous approval to file 21854, the law authorizing the reduction of working hours prior to the declaration of a national emergency, reported the Assembly.
During the 4th quarter of 2019 the unemployment rate was 5.9%, which is less than the 6.5% registered in the 3rd quarter of last year.
From a report by the Central Bank of the Dominican Republic:
When analyzing the evolution of employment in the last four quarters, it is observed that the average rate of generation of net new employed persons is 123,935, as a result of averaging the year-on-year flows of generation of employed persons for the quarters January-March (153,000), April-June (136,264), July-September (72,761) and October-December 2019 (133,713).
Between the third and fourth quarters of 2019, the open unemployment rate in Costa Rica rose from 11.4% to 12.4%, partly because of the increase in women's unemployment.
In a year-on-year comparison, the National Institute of Statistics and Censuses (INEC) report states that the national unemployment rate for the fourth quarter of 2019 remains unchanged from the fourth quarter of 2018 at 12.4%.
Between 2018 and 2019, the unemployment rate in the country did not vary significantly, falling by just 0.3% from 2.8% to 2.5%.
Data from the 2019 National Income and Employment Survey (ENEI 1), prepared by the National Statistics Institute (INE), show that at the time of the survey the unemployed population was 179,000, down from 194,000 in the ENEI I of 2018.
Up to March of this year, the total unemployment rate reached 6.4%, above the 5.8% reported at the end of March 2018.
When analyzing by area, urban showed a 7.2% rate in the third month of 2019, which is higher than that recorded in rural areas, whose rate was 4.2%, reported the General Comptroller of the Republic.
The report states that "... the rate of participation of women in economic activity was lower than that of men.
From April to December 2018, the unemployment rate recorded a clear upward trend, rising from 8.7% to 10.2% between the second and third quarters and rising to 12% at the end of the year.
The National Institute of Statistics and Censuses (INEC) reports that for the fourth quarter of 2018, unemployment increased by 89 thousand people year-on-year, since it was estimated at 294 thousand people, of whom 148 thousand were men and 146 thousand women.
The unemployed population with respect to the labor force increased 1.2%, going from 9.1% in the first quarter of 2017, to 10.3% in the first quarter of 2018.
- The employment rate was 51.8%, while in the same period last year it was 54%.
- The unemployment rate increased with respect to the same period last year, in this quarter it was 10.3%, the previous year it was 9.1%.
At the end of the fourth quarter of 2017, the unemployment rate remained unchanged compared to the same period in the previous year, at 9.3% and the percentage of employed persons with informal employment was 41%.
The National Institute of Statistics and Census (INEC) reported that underemployment presented a decrease in this fourth quarter of 2017, registering a level of 8%, while in the same period of 2016 the figure reached 9%.
In Costa Rica a law iniatiative pretends to force companies to have 25% of their workforce composed by young people aged between 17 and 24 years old.
EDITORIAL
The problem of unemployment that affects thousands of young people in Costa Rica and the Central American countries will not be solved simply by forcing private companies to hire a certain proportion of young employees, regardless of their qualifications and skills, or even worse, without considering whether there is an actual need for hiring or not.
In September 2016 an annual increase of 10% was registered in the number of workers signed up with the social security department and a 5% increase was recorded in the average nominal wage.
Membership of the Nicaraguan Institute of Social Security (INSS) grew by 9.8% in September compared with the same month in 2015, with noteworthy sectors being trade, hotels and restaurants, with an increase of 18%, transport, storage and communications, with 17%, construction with 15% and community, social and personal services, with 11.5%, according to Central Bank of Nicaragua.
In the last year the number of people with jobs outside the formal market grew by nearly 3%, showing the deterioration of the competitiveness of the Costa Rican economy.
From a statement by the Costa Rican Union of Chambers and Associations of Private Business Sector (UCCAEP):
Business Sector reiterates urgency of improving competitiveness and business climate in order to attract new investment.