The economic dynamics of the last two years continue to be reflected in the recovery of formal employment and salaries. According to the recent report from the Central Reserve Bank (BCR), the number of jobs on the payroll grew 4.8% in the last 11 months (accumulated as of November), which meant the creation of 284,000 new jobs.
Although this figure is positive, experts warn that it is insufficient to cover the annual labor supply, which exceeds 300,000 new entrants to the labor market.
By type of employer, growth was more dynamic in the private sector with an expansion of 6.2% compared to 1.2% in the public sector. This data is especially auspicious considering that private companies concentrate more than 70% of the country’s formal labor demand.
The largest hiring of formal jobs stood out in the agricultural sector, which includes agro-export activity. In November alone, the employment demanded by agricultural companies grew 5.1% due to the campaign of various export fruits.
On the other hand, mining showed notable progress with double-digit growth (+10.3%) in November, favored by high prices in the international market.
Data
The services and commerce sectors along with agriculture added the largest number of jobs in November: 94,000, 37,000 and 34,000, respectively.
The average formal income reached S/3,092.5.
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