April 20th, 2015 (InsideCostaRica.com) A story published by the Spanish-language financial newspaper El Financiero on Sunday as part of a series analyzing income inequality in the country pointed out what some may find to be a surprising fact: 56% of the country’s workforce has not completed high school.
The data, based on the National Survey of Income and Expenditure 2013 produced by the National Institute of Statistics and Census (INEC), also reveals that 71% of workers have never attended college or university-level courses.
EF’s analysis shows that education, or lack thereof, is increasingly correlated to workers’ earning potential.
According to EF’s estimates, a worker who has completed high school will earn, on average, 23% more than a worker who has not for doing the same job.
And if the worker possesses a bachelor’s degree, he can expect to earn more than twice as much for the same job than a worker only possessing a high school diploma.
One million of Costa Rica’s 1.5 million workers, or 67%, earn less than ¢450,000 per month (~$855 USD).
Editor’s note: This story was corrected on April 20th, 5:29 p.m. The original article stated in the second paragraph that 71% of workers do not possess college degrees; where in fact it should have been stated that 71% of workers have never received or attended college or university-level studies. We regret the error, and appreciate reader Ken Morris for catching the mistake.
The error will be noted on our corrections page shortly.