Costa Rica: Unemployment Ended 2020 on a Downward Trend

As a result of the crisis caused by the covid-19 outbreak, during the second quarter of 2020 the unemployment rate at national level rose to 24%, for the period from July to September it decreased to 22% and in the last three months of the year it fell to 20%.

Thursday, February 4, 2021

Regarding the unemployed population, for the IV Quarter of 2020 it was estimated at 488 thousand people, of these 240 thousand are men and 248 thousand women, the unemployed population increased by 178 thousand people on a year-on-year basis, 97 thousand men and 81 thousand women, informed the National Institute of Statistics and Census (INEC).

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

The number of unemployed people in urban areas was estimated at 383 thousand, a year-on-year increase of 146 thousand people by area of residence. The unemployed in rural areas were estimated at 104 thousand people, an increase of 32 thousand people with respect to the same period of the previous year, according to the document.

The report states that "... the unemployment rate of the male population was estimated at 16.4% and that of women at 25.2%, which represented a statistically significant increase of 6.9 pp. and 8.6 pp. respectively. The urban unemployment rate was estimated at 20.8%, with a year-on-year variation of 8.2 pp. and the rural unemployment rate was 17.4%, up 5.7 pp. with respect to the same quarter of the previous period."

The increase in the number of unemployed is especially among people with complete or incomplete high school education (47.8%). Most of them have been looking for a job for 6 months to a year (54.7%), the report states.

See full report.

More on this topic

Labor Market: How Many Years Will the Recovery Take?

December 2020

Due to the economic crisis it is estimated that by the end of 2020 Panama will have 400 thousand new unemployed and the unemployment rate will climb to 25%, assuming that the country generates between 45 thousand to 50 thousand jobs annually, it will take about eight years for the recovery to take place.

The outbreak of covid-19 caused a serious economic crisis in the country, since due to the spread of the disease the authorities have decreed severe home quarantines, mobility restrictions and have limited some productive activities.

Costa Rica: Unemployment Rate Rises to 11.4%

November 2019

After in the III Quarter of 2018 the indicator stood at 10.2%, for the same period this year the unemployment rate rose to 11.4%.

The unemployment rate was 11.4% in urban areas and 11.3% in rural areas. In urban areas, the unemployment rate remained unchanged, while in rural areas it rose 1.3 pp year-on-year, according to the National Institute of Statistics and Censuses (INEC).

Costa Rica: Unemployment Rate Goes Up to 11.9%

August 2019

From April to June of this year, the unemployment rate stood at 11.9%, higher than the 11.3% reported in the first quarter of 2019.

For the second quarter of 2019, there was a significant increase in the net labor participation rate of 63%, with a 2.1 pp. increase over the same period of the previous year.

Unemployment Keeps Rising in Costa Rica

February 2019

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.

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