Private Employment Drops in Costa Rica

The recovery which started in September 2009 has come to an end in March 2010 and since then, more than 3,000 jobs have been lost.

Wednesday, September 29, 2010

The global economic crisis of 2008 caused the disappearance of 50,000 jobs in the private sector. Recovery began in September 2009 through March 2010 generating 36,000 new jobs. But since then, private employment has begun to fall again.

According to Costa Rica's Social Security Agency (CCSS), the overall unemployment figures do not rise even more because the public sector remains a major employer.

In an article for, Mario Bermudez interviewed Alan Saborio, managing partner of Deloitte Costa Rica, "There is a significant factor conspiring against a faster economic recovery, the currency exchange rate affecting sectors like hotels and exports, which are critical to recovery but have been most affected by the Dollar´s struggles.”

More on this topic

Costa Rica: Business Cohesion In light of the Crisis

July 2015

In the face of virtual political paralysis the productive sectors have agreed to an agenda of projects and initiatives to promote economic growth and employment generation.

From a statement issued by the Costa Rican Union of Chambers and Associations of Private Business Sector:

Costa Rica: Unemployment Over 10%

May 2015

The unemployment rate in the first quarter reached 10.1%, causing increasing concern for the business sector, which every day is facing more obstacles to generate more and better jobs.

From a statement by the Costa Rican Union of Chambers and Associations of Private Business Sector (UCCAEP):

Costa Rica´s Choice: Low Dollar or High Inflation

November 2010

The loss of competitiveness in exports and tourism generates unemployment, but intervening in the exchange rate will generate inflation.

There seems no good solution to the problem Costa Rica has with the appreciation of its currency, which has meant a loss of competitiveness of its exports, especially agricultural, by about 5% annually over the past 4 years.

Costa Rica Anticipates an Increase in Unemployment

May 2009

A survey by UCCAEP of 405 companies from various sectors revealed that there will probably be more unemployment in the second half of the year.

Hassel Fallas wrote in an article in "Shirley Saborío, director of UCCAEP (Costa Rican Union of Chambers and Private Enterprise Associations,) explained that the survey presented yesterday revealed that the index of business confidence in employment for the second quarter is 4.12 points out of a possible 10. During the same period in 2008, it was 6.15.

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