Nicaragua: Labor Market Figures

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.

Thursday, December 8, 2016

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.

It was also noted that the average salary of INSS affiliates stood at 9,300 cordobas up to August, registering a growth of 5%. 

See statistics (in spanish) by the Central Bank of Nicaragua.

More on this topic

Nicaragua: Minimum Wage Unchanged

August 2019

Nicaraguan authorities and workers' unions decided not to make changes to the minimum wage, so it will be until 2020 when the issue is discussed again.

Days ago there was tension over the possible increase to the minimum wage in a context of economic recession, but finally the negotiating table decided not to make any change.

The Cost of Opposing Social Security Reform

April 2018

Fitch Ratings is warning that the growing INSS deficit in Nicaragua and the failure of the reform which would have raised contributions of workers and employers, will increase the need for government financing, at about 0.6% of GDP per year.

From a statement issued by Fitch Ratings:

Formal Employment Continues to Rise in Nicaragua

April 2018

In 2017, 35,055 employers registered with the Nicaraguan Social Security Institute, which represents an increase of 7% compared to the 32,744 reported in 2016.

According to the Social Security Statistical Yearbook, last year " ... The number of employers in the month of December reached a total of 35,055, 48.9 percent of these companies were in the city of Managua, 6.2 percent in Chinandega, 6.1 percent in Leon and 5.6 percent in Matagalpa. "

Guatemala: Social Security Covers Only 20%

August 2012

Of a total of 5 million people who make up the economically active population (EAP) of Guatemala only a million are covered by social security.

Data from a study by the Association for Research and Social Studies (Asies), indicates there is a high informal sector in the economy which raises several problems.

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