Salvadoran Economy Recovers Formal Jobs

As a result of the economic crisis during June 2020 the number of workers contributing to the Salvadoran Social Security Institute decreased to 810 thousand, in the following months the figures improved and in March 2021 the figure rose to 861 thousand.

Tuesday, June 1, 2021

According to the report corresponding to March 2021 of the Salvadoran Social Security Institute (ISSS), the different economic activities report a sustained recovery, especially the sectors that were mostly affected by the economic downturn such as commerce, restaurants, hotels and services.

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Manufacturing industry, financial activities and construction are sectors that have not yet recovered the formal jobs lost in the context of the sanitary crisis caused by the Covid-19 outbreak, informed ISSS. reports that "... the ISSS reports that last March the population in payroll reached 860,570. When comparing with June 2020, when it reached the lowest level at 810,009, there is a recovery of 50,561 workers in the last months."

The publication adds that "... the figure is lower when compared to the workers contributed -with payrolls effectively paid-. As of March 2021 they reached a population of 841,640, if that figure is compared to June 2020, which was 799,261, the data indicates that 42,379 have been recovered."

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During the mobile quarter from September to November 2020, the unemployment rate at the national level stood at 21.3%, which is lower than the 21.9% reported from August to October of the same year.

For the mobile quarter September, October and November 2020, the population of 15 years of age and older with an incidence of labor due to the effect of Covid-19 was 1.07 million people (26.7%), according to an official report.

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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.

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Costa Rica: Unemployment Rate Remains at 22%

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In the current scenario of economic crisis, during the mobile quarter from August to October 2020 the unemployment rate at the national level was 21.9%, a proportion similar to the 22% reported from July to September.

The National Institute of Statistics and Censuses (INEC) reported that for the August, September and October 2020 moving quarter, the population of 15 years old and older with an incidence of labor due to the effect of Covid-19 was 1.13 million people (28.3%). The incidence of labor in the labor force was estimated at 981,000 people (40.8%). A total of 474,000 employed people (25.2%) have some incidence of the pandemic in the workplace. Of the unemployed, 507,000 people (96.3%) were affected in their search for employment. Finally, the labor incidence caused by the emergency affected about 154 thousand people (9.6%) outside the workforce.

Unemployment Begins to Decline in Costa Rica

November 2020

In the current scenario of economic crisis, during the third quarter of the year the unemployment rate nationwide stood at 22%, a proportion that is lower than the 24.4% reported for the mobile quarter from May to July.

According to the report released by the National Institute of Statistics and Censuses (INEC), 42% of the people who were unemployed during the third quarter of 2020 said that they had less than three months to look for work.

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