No menu items!

COSTA RICA'S LEADING ENGLISH LANGUAGE NEWSPAPER

HomeNewsCosta RicaUnemployment in Costa Rica reaches 20.1%, the highest in its history, in...

Unemployment in Costa Rica reaches 20.1%, the highest in its history, in midst of pandemic

Unemployment in Costa Rica reached 20.1% from March to May 2020, marking the highest-recorded level of that economic indicator, the official statistical agency announced Thursday.

The figure marks a significant increase over the previous high of 15.7% from February through April.

The unemployment rate reflects an increase of 8.8 percentage points in relation to the same period last year, according to the National Institute of Statistics and Census (INEC), and amounts to 190,000 more unemployed Costa Ricans compared to 2019.

“This reflects the state of affectation in the labor market indicators due to the restrictions taken in the country in order to contain the COVID-19 pandemic,” INEC said.

Women have a higher unemployment rate than men (26.0% compared to 16.3%).

Meanwhile, an estimated 17.6% of laborers are underemployed, meaning they work fewer than 40 hours per week and want more hours. That reflects an 8 percentage-point increase over the same period in 2019.

President Carlos Alvarado acknowledged last month that unemployment numbers would likely continue to rise, recognizing the ongoing and widespread repercussions of the coronavirus pandemic.

The coronavirus led Costa Rica to close a large part of its economic activity — especially tourism, one of the main engines of its growth — beginning in late March.

Measures have been eased gradually since May, though many were reapplied this week due to a spike in cases. Still, Costa Rica plans to reopen its airports on August 2, the Health Ministry said this week.

Trending Now

Costa Rica Expat’s Bus Journey to the Border: A Ride Like No Other

I can’t say what compelled me to buy a ticket to the border on a collectivo bus. I got to the station too early....

Guatemala and U.S. Strengthen Cooperation on Migration and Transnational Crime

Migration and drug trafficking dominated a meeting on Friday between U.S. Deputy Secretary of State Christopher Landau and Guatemalan President Bernardo Arévalo, according to...

Costa Rica Faces Slower Growth and Rising Exchange Rate Pressures

Costa Rica is bracing for a challenging economic landscape through 2025 and into 2026, marked by slower growth, exchange rate pressures, and mounting uncertainties,...

Costa Rica Faces Growing Arms Trafficking Crisis

On Thursday, the Judicial Investigation Organization (OIJ) made headlines by seizing 56 weapons in La Guácima de Alajuela, marking the largest arms seizure in...

Costa Rica’s US-Donated Drug Scanners Sit Unused for Seven Months

Costa Rica’s fight against drug trafficking hit a snag, and it’s raising eyebrows. Seven months ago, the United States donated two high-tech scanners to...

Costa Rica’s Tourism Minister Dismisses Crime and Currency Concerns

Tourism Minister William Rodríguez López addressed growing concerns about crime and the strengthening colón’s impact on Costa Rica’s tourism industry, asserting that these issues...
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