The International Monetary Fund (IMF) expects unemployment in the Dominican Republic to increase from 14 to 16%. In recent years, jobs have been increasing in the informal sector and in government. As of 2012, country statistics show 57% of jobs outside of government were in the non-regulated sector. Economist Ernesto Selman, of the Regional Center for Sustainable Economic Strategies (CREES) says that 70% of jobs created in the past 10 years has been in government. He says the oversized public sector demands more resources for its operation and pressures and makes productive sectors, those that should be generating wealth, more inefficient.
"We have to create the conditions so that those jobs can be created in the formal private sector and the challenges including adapting the labor code to the international marketplace," he said. He expressed concern that informal jobs have grown at twice the rate as those in the formal sector. Informal jobs do not pay taxes and employees have few benefits, such as insurance.
Selman says that Central Bank statistics show that jobs in financial intermediaries, including insurance companies has increased 88%, and telecom jobs are up 63%. Jobs in commerce are up 35%, tourism (54%) and construction (45%). Meanwhile, jobs in government were up 44%. Farming sector jobs were up 14% and jobs in industry declined 18%.
Sector p?blico absorbe el 70% del empleo en RD - listindiario.com
"We have to create the conditions so that those jobs can be created in the formal private sector and the challenges including adapting the labor code to the international marketplace," he said. He expressed concern that informal jobs have grown at twice the rate as those in the formal sector. Informal jobs do not pay taxes and employees have few benefits, such as insurance.
Selman says that Central Bank statistics show that jobs in financial intermediaries, including insurance companies has increased 88%, and telecom jobs are up 63%. Jobs in commerce are up 35%, tourism (54%) and construction (45%). Meanwhile, jobs in government were up 44%. Farming sector jobs were up 14% and jobs in industry declined 18%.
Sector p?blico absorbe el 70% del empleo en RD - listindiario.com