One Year in CrisisA drastic fall in productive activity, outflows of investments and the disappearance of thousands of formal jobs are some of the consequences a year after the political and economic crisis in Nicaragua.Wednesday, April 17, 2019
In March 2018, CentralAmericaData reported the figures that reflected the economic boom that Nicaragua was experiencing: formal employment grew at a year-on-year rate of close to 3%, economic activity each month recorded year-on-year growth rates of between 4% and 5%, while consumption and imports increased. Only a month later, on Friday, April 19, a series of events occurred that determined a radical change in the trend observed until then. The announcement of the reform of the Nicaraguan Social Security Institute triggered a social, political and economic crisis that the country is suffering so far. Do you need more information about your business sector?Request more information: Need assistance? Contact us
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Nicaragua: Formal Employment Keeps FallingApril 2019 In accordance with the decreases reported last year, in February 2019 there were 755,908 social security workers, 17% less than in the same month of 2018. Employment: Easier to Destroy Than to CreateAugust 2018 From January 2016 to December 2017, 88,932 new workers signed up to the social security scheme in Nicaragua, but since the crisis began in April, more than 86,000 formal jobs have been lost. Nicaragua: Decline in Formal Employment Gets SteeperAugust 2018 In line with the year-on-year falls of 2%, 4% and 7% reported in March, April and May, in June 810,430 workers were registered as enrolled in the social security scheme, 12% less than was reported in the same month in 2017. Nicaragua: Formal Employment Continues to FallJune 2018 In addition to the fall of 2% reported in March, the affiliation of 878,500 social security workers was recorded in April, 4% less than the number reported in the same month in 2017.
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