Nicaragua: Unemployment Could Rise to 9%

Given the threat of a deepening economic recession in the country, resulting from the outbreak of covid-19, it is estimated that by the end of the year the open unemployment rate could rise to 9.2%.

Thursday, April 30, 2020

In the context of the health crisis, an increase in poverty levels will also be reported, and the GDP per capita indicator will decrease, explains the "Informe de Coyuntura, Abril 2020", prepared by the Nicaraguan Foundation for Economic and Social Development (Funides).

You may be interested in "Nicaragua: Consumption Outlook"

According to Funides, the increase in the unemployment rate means that there could be between 25,000 and 89,000 new unemployed this year, so the balance of unemployed at the end of 2020 would be between 238,000 and 302,000 people.

The document explains that "... it is estimated that the GDP per capita will range between $1,655 and $1,787. This represents a contraction of between 6.9% and 13.7% compared to 2019."

Download full report.

Consult for country forecasts in the interactive report "Information System: Covid-19 and Business Outlook."

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