Over the last seven months 125,000 jobs were created
Diario Libre
SANTO DOMINGO. The Dominican labor market saw 125,000 jobs created between October 2010 and April of this year, led by the commerce, farming, other services and mining sectors.
According to a survey by the Central Bank, 170,763 additional persons sought to insert themselves into the labor pool between October 2010 and April 2011, equal to 3.9% of the Economically Active Population (EAP) but only 125,283 found work.
The report stresses that 55.5% of the new jobs created were in the informal sector, equal to 69,512 net jobs.
Likewise, the report indicates that the unemployment rate grew by 0.8 percentage points, going from 47.2% in October 2010 to 48% in April 2011. The EAP is made up of the employed and those unemployed for more than ten years.
New jobs
The sparkplug of the new jobs during this seven month period was the Commerce sector, both wholesale and retail, with 47,676 new jobs. Likewise, Other Services brought 43,011 jobs, Farming 23,043, and Mining and Quarrying grew by 8,073, Manufacturing saw 1,048, Construction 1,158, Hotels, Bars and Restaurants, 1,494, Public Administration and Defense, 1,703, Transportation and Communication, 1,541.
The total number of people with jobs in October 2010 was 3,768,362 persons, a number which grew by 125,283, and ended in April 2011 with 3,893,645 people with jobs.
The report indicates that of the 3.7 million people employed last October, 1.6 million were in the formal sector, 42.9% and 2.1 million were in the informal sector, equal to 57.1%.
Meanwhile, in April of this year, the persons with jobs were 3.8 million, with formal workers numbering 1.6 million, but slightly better than in October, equal to 43.3% and the informal workers numbered 2.2 million or 56.7% of the entire work force.
Of the jobs created from October 2010 to April 2011, 55,771 were informal and represent 44.5%, while the formal jobs numbered 69,512 or 55.5%.
Within Latin America, the country is next to Mexico, Venezuela and Brazil in the average number of informal jobs in the region.
The report shows that the average income per hour's work increased RD$2.90 an hour, going from RD$73.28 to RD$76.14 between October 2010 and April of this year. The average number of hours worked each week, according to the survey, remained around 42 hours.
Post-crisis
The Central Bank stresses that 55.5% of the new jobs created are in the formal sector, some 69,512 net jobs, for a growth of 4.3% with respect to the formal jobs of October 2010. The bank indicates that the Dominican Republic is next to Costa Rica, Mexico, Panama and Peru among the countries of the region where formal employment increased between 3% and 5% in the period since the world crisis, and that the sustained economic growth of the country since October 2004 has shown an net increase of 714,286 new jobs.
According to a survey by the Central Bank, 170,763 additional persons sought to insert themselves into the labor pool between October 2010 and April 2011, equal to 3.9% of the Economically Active Population (EAP) but only 125,283 found work.
The report stresses that 55.5% of the new jobs created were in the informal sector, equal to 69,512 net jobs.
Likewise, the report indicates that the unemployment rate grew by 0.8 percentage points, going from 47.2% in October 2010 to 48% in April 2011. The EAP is made up of the employed and those unemployed for more than ten years.
New jobs
The sparkplug of the new jobs during this seven month period was the Commerce sector, both wholesale and retail, with 47,676 new jobs. Likewise, Other Services brought 43,011 jobs, Farming 23,043, and Mining and Quarrying grew by 8,073, Manufacturing saw 1,048, Construction 1,158, Hotels, Bars and Restaurants, 1,494, Public Administration and Defense, 1,703, Transportation and Communication, 1,541.
The total number of people with jobs in October 2010 was 3,768,362 persons, a number which grew by 125,283, and ended in April 2011 with 3,893,645 people with jobs.
The report indicates that of the 3.7 million people employed last October, 1.6 million were in the formal sector, 42.9% and 2.1 million were in the informal sector, equal to 57.1%.
Meanwhile, in April of this year, the persons with jobs were 3.8 million, with formal workers numbering 1.6 million, but slightly better than in October, equal to 43.3% and the informal workers numbered 2.2 million or 56.7% of the entire work force.
Of the jobs created from October 2010 to April 2011, 55,771 were informal and represent 44.5%, while the formal jobs numbered 69,512 or 55.5%.
Within Latin America, the country is next to Mexico, Venezuela and Brazil in the average number of informal jobs in the region.
The report shows that the average income per hour's work increased RD$2.90 an hour, going from RD$73.28 to RD$76.14 between October 2010 and April of this year. The average number of hours worked each week, according to the survey, remained around 42 hours.
Post-crisis
The Central Bank stresses that 55.5% of the new jobs created are in the formal sector, some 69,512 net jobs, for a growth of 4.3% with respect to the formal jobs of October 2010. The bank indicates that the Dominican Republic is next to Costa Rica, Mexico, Panama and Peru among the countries of the region where formal employment increased between 3% and 5% in the period since the world crisis, and that the sustained economic growth of the country since October 2004 has shown an net increase of 714,286 new jobs.
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