Unemployment Begins to Decline in Costa Rica

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.

Thursday, November 5, 2020

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.

Check out the "System for monitoring the markets and economic situation in the countries of Central America", developed by CentralAmericaData.

According to official estimates, from July to September of this year the number of unemployed persons rose to 520,237. Of the total population that was looking for work, 30% are between 15 and 24 years old, 46% are between 25 and 44 years old, and the remaining 24% are 45 years old or older.

The rate of 22% is double the proportion of 11.4 reported for the same period in 2019, a rise that is explained by the economic crisis the country is going through due to the covid-19 outbreak and the restrictions decreed to contain the advance of the pandemic.

Although the rate is still high, there are already signs of a decrease in unemployment, since for the quarter from May to July 2020 the proportion rose to 24.4%, for the period from June to August it fell to 23.2% and for the months from July to September it fell to 22%.

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For the moving quarter from November 2020 to January 2021, the unemployment rate in the country decreased to 19%, which is slightly lower than the 20% reported for the period from October to December last year.

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Regarding the unemployed population, for the IV Quarter of 2020 it was estimated at 488 thousand people, of these 240 thousand are men and 248 thousand women, the unemployed population increased by 178 thousand people on a year-on-year basis, 97 thousand men and 81 thousand women, informed the National Institute of Statistics and Census (INEC).

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December 2020

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.