Unemployment Rate Closes 2019 at 12.4%

Between the third and fourth quarters of 2019, the open unemployment rate in Costa Rica rose from 11.4% to 12.4%, partly because of the increase in women's unemployment.

Thursday, February 6, 2020

In a year-on-year comparison, the National Institute of Statistics and Censuses (INEC) report states that the national unemployment rate for the fourth quarter of 2019 remains unchanged from the fourth quarter of 2018 at 12.4%. By sex, men showed 9.6% and women 16.7%, both rates with no significant year-on-year change.

This represented 309,000 unemployed individuals in the country, without a statistically significant variation when compared to the same period in 2018, however, there was a significant increase of 21,000 more women unemployed. Despite this increase in women, it was not enough for the female unemployment rate to grow significantly, explained the INEC.

The report adds that "... The net labor participation rate, which relates the workforce with the population of working age, was estimated for the last quarter of 2019 at 62.9%. In this regard, the national workforce was 2.49 million people and remained unchanged significantly in this period.

On the other hand, the employment rate, which relates the employed population with the working age population, remains unchanged for this fourth quarter of 2019 at 55.1%. The employment rate by sex was 67.7% for men and 42.3% for women, both without year on year statistical variation.

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