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Unemployment Up in Central America
Central America
and the Dominican Republic will see their
average jobless rate up by three percent in
2009 due to the impact of the global
economic crisis, alerted today the
International Labor Organization (ILO). A
report of ILO's office for the region
indicates that unemployment will go up from
six percent in 2008 to nine percent this
year.
It adds the jobless population of these
countries will increase from 1.2 million
people in 2008 to almost 1.7 million in
2009.
Under the title of Impact of World Crisis on
the labor market of Central America and the
Dominican Republic, the study expresses that
Costa Rica could reach an unemployment rate
of 7.9 percent.
Follow El Salvador (7.7 percent), Honduras
(4.7), Nicaragua (4.7), Panama (6.7) and the
Dominican Republic (17.8).
Without the economic crisis, the jobless
rate in most of these countries would be
half of what was projected for 2009, with
the exception of the Dominican Republic.
Leonardo Ferreira, ILO expert for Central
America and the Dominican Republic commented
the effect of the economic crisis is strong
in all the countries, but it will be more
evident in El Salvador and Costa Rica.
Regional economy will slow up in 2009 and
the sectors most hit will be construction,
manufacturing industry, retail, hotels and
restaurants.
ILO explained the study was made with data
of different state entities of each country
excluding Guatemala for not having updated
figures of its labor market.
It is also expected that in 2009 the amount
of persons not covered by social security
and informal jobs will increase, although no
figures were given.
ILO recommended governments of the region to
boost formal employment protect workers
fired by the crisis, promote investment in
clean energy sources and facilitate credit
to small and medium enterprises.
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