The absence of concrete measures in the area of economic revival takes its toll on employment figures in the country.
This Wednesday, the Chamber of Commerce announced that in the last year, 47,494 workers in the formal commercial sector lost their jobs. In the same period, 21,510 people joined the informal commerce sector.
2019 has been a year of economic and commercial contraction, mainly due to the loss of consumer confidence and the reduction in sales; which in turn reduced the capacity for investment and employment generation by companies. The economic contraction facing the country is reflected in most indicators. The unemployment rate stands at 11.4% for the third quarter of 2019 (11.9% in the second half of 2019). Informal employment reaches 46% of total employment (1,000,418 people), implying a cost to social security (for non-collection) of at least 216 billion colones,”
the Chamber of Commerce said in a statement .
Additionally, the Consumer Confidence Index reached the lowest levels of the year (28.5%), while business dynamism places the country in the 92nd position of 140 countries (Global Competitiveness Index 2019).
As for the closing of business, the Chamber indicated that 1,746 companies close annually, which is equivalent to 2% of the business park (according to data from the State of the Nation 2019), while the commercial premises have an unemployment rate of at least 15%.