2014News

Informal jobs pay better

The Central Bank reported that people working in the informal sector in the DR make more on average than workers with formal jobs. The Central Bank says that only the higher-level jobs, such as management, or about 12% of formal jobs, make more than people who are self-employed or working in the informal sector. The Central Bank says that employees in mid-level sectors like office employees, service sector employees, and skilled and unskilled workers usually earn lower hourly wages than people working in the informal sector.

The Central Bank recently released findings from the National Workforce Survey (ENFT) that shows an abysmal difference between the formal and informal sector. The survey found that wages are low in the formal sector. The informal sector represented 50.6% of jobs in 2013 compared to 46.2% in 2000. The National Business Council (Conep) says that 70% of jobs in the formal sector were created in government offices.

Read more in Spanish at:

http://www.diariolibre.com/economia/2014/07/02/i681051_banco-central-aclara-que-los-informales-ganan.html