Formal employment grew 6% in August, what are the items with the greatest progress?

The formal employment in Peru it climbed 6% year-on-year in August of this year, with which around 318,000 new jobs were added compared to the same month of 2021, reported this Monday the Central Reserve Bank of Peru (BCR).

The monetary entity explained that, with these results, formal employment in the country adds 17 consecutive months of growth.

The advance responded mainly to the reported increase in formal jobs in the private sector.

This sector has maintained its growth since April 2021 and climbed 7.4% year-on-year in the eighth month of the year, the entity pointed out.

The increase in formal jobs in the private sector in August was largely driven by electricity and services, which registered growth of 12.8% and 10.8%, respectively, according to the BCR.

In addition, formal employment increased in the commerce (6.7%), mining (5.2%) and agricultural (3.9%) sectors.

Jobs in the manufacturing (3.4%) and fishing (0.7%) sectors also increased, but the construction sector fell (-3.5%).

For its part, the total wage bill grew 12.6% in August compared to the same month of 2021, associated with the increase in jobs and wages, the BCR noted.

On the private side, the wage bill increased by 14.9%, mainly due to the dynamism of the services sector, he said.

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