Costa Rica Registers a 24.4% Unemployment Rate

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Costa Rica registers an unemployment rate of 24.4%, confirmed the National Institute of Census and Statistics (Spanish acronym: INEC), this represents an increase of 12.9 points and 270 thousand people approximately, mainly women which reach a rate of 30.2%.

The Government has announced several measures to stimulate employment opportunities, among these the authorization of more flights to enter the country as of October 1st, with the purpose of reactivating the tourism sector; the creation of a fund for companies that have trouble getting access to credits due to the losses of the last few months, this fund will allow companies to obtain better rates and terms as longa as they maintain existing employment conditions and grow them in time.

These efforts to reactivate the economy and employment come hand in hand with actions geared to protecting those that lost their job or saw their income diminished due to the pandemic. So far, 684,735 people have benefited from the “Bono Proteger” (which provides economic assistance to families whose finances where affected critically by the pandemic) and offering food packages to 855 thousand students and cleaning and food supplies to over 300 thousand families”, explained the government’s press release.

“Better conditions for credits, the reactivation of tourism with strategic markets and the funds announced are the start point for the recovery of many economic activities, specially the most affected sectors that include tourism, rural zones and women”, commented Geannina Duarte, Minister of Work.

The announcements were made by the government in the second day of controlled reopening of commercial activities that allow small, medium and large companies to resume their operations “normally” following sanitary measures.

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