No menu items!

COSTA RICA'S LEADING ENGLISH LANGUAGE NEWSPAPER

HomeTopicsBusinessCosta Rica has the second highest unemployment rate in Latin America, according...

Costa Rica has the second highest unemployment rate in Latin America, according to the UN

A report released by the United Nations Economic Commission for Latin America and the Caribbean (ECLAC) said Costa Rica had the second highest unemployment rate in the region.

Only Colombia with an unemployment rate of 10.6 percent surpassed Costa Rica’s 8.3 percent, according to the report dated December 2013.

And looks like the kick off of tourist season won’t be much help. Some 70 percent of tourism business owners surveyed by the National Tourism Chamber said they would not hire new workers this season.

Costa Rica ended the third quarter of 2013 with an unemployment rate of 8.9, according to figures published by the National Statistics and Census Institute (INEC). The country’s unemployment rate has fallen from a recent peak at 10.9 in 2011 to 8.9 in the third quarter of 2013, but still remains above its neighbors, according to the ECLAC report. 

The report said the rise in unemployment rolls was consistent with a “cooling economy,” especially in manufacturing and construction sectors.

Low high school graduation rates for Ticos between 17 and 21 have kept many from taking advantage of the better, higher paying jobs in technology and the service industry created in recent years, according to the fourth State of Education report released in September 2013.

ECLAC predicts Costa Rica’s GDP will grow 4 percent in 2014, lower than Nicaragua (5 percent) and Panama, the regional leader at 7 percent. That’s just below average for the region.

Central America and the Dominican Republic’s economies are estimated to grow at an average of 4.5 in 2014. 

 

Trending Now

Assassinated in Exile: Roberto Samcam Laid to Rest in Costa Rica

To the cry of "justice," the remains of retired Nicaraguan Army Major Roberto Samcam, a staunch critic of the Daniel Ortega government who was...

Costa Rican Health Officials Sound Alarm Over Teen Vaping Epidemic

Vaping has become increasingly popular, especially among teenagers and young adults. However, the health consequences associated with its use are raising alarm among Costa...

Hondurans March to Mark 2009 Coup as Election Battle Heats Up

Thousands of government supporters marched Saturday in the capital of Honduras to commemorate the anniversary of the 2009 coup that ousted then-leftist President Manuel...

Costa Rica’s Rare Birds at Risk as Human Activity Threatens Extinction

Costa Rica’s bare-necked umbrellabird, a striking black bird with a red throat pouch and crest, is in trouble. A new study in Nature Ecology...

Prisma Dental in Costa Rica Keeps Customers Happy and Smiling

I am 81 years old and have had teeth removed, bridges, and cavities fixed several times to sustain my ability to eat and function....

Costa Rica Green Hotels Lead Global Sustainable Tourism

Costa Rica’s reputation as a leader in sustainable tourism grows stronger every year, with our green hotels setting a high bar for eco-conscious hospitality...
spot_img
Costa Rica Tours
Costa Rica Coffee Maker Chorreador
Costa Rica Coffee Maker Chorreador
Costa Rica Travel Insurance
Costa Rica Rocking Chait
Costa Rica Travel

Latest News from Costa Rica