60% of Bolivians are already of working age, but the supply is poor

The World Bank projected that Bolivia had a population of 12,388,571 people in 2023. The results of this year’s census are still awaited. The Jubileo Foundation assures that More than half of the country’s population is of working age, but the quality of the job offer in the country is very poor..

Carla Cordero, a social policy analyst at Jubileo, said that the INE also projects a little over 12 million people. “64.9% of the population is of working age. Six out of 10 Bolivians are between 14 and 64 years old, that is, a potential workforce, “We need to re-evaluate human capital.”

This is positive: “If we invest in education to foster this human capital, that goes hand in hand with employment. The data show that our unemployment rate is low, but the quality of work is also low. In urban areas, 60% of the population works in the informal sector.trade, manufacturing. While in rural areas, fewer people are engaged in agriculture and prefer to migrate to the city, which in turn generates unemployment.”

His colleague René Martínez, a budget analyst, commented that the GDP per capita is $us 3,701 dollars. Monthly it would reach $us 308. At the official exchange rate of Bs 6.96 it is Bs 2,146.58. “But the parallel exchange rate that today exceeds Bs 10, If there is an honest account of the economy, this confirms that what they earn monthly has been devalued”.