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NEWS

Dominican bank links hike in formal jobs to economic expansion

Santo Domingo, Dec 27 (Prensa Latina) The Central Bank of the Dominican Republic (BCRD) on Friday noted the country's nearly 5 percent economic growth has helped create some 173 thousand jobs in the last 12 months.

Currently there are just over five million employees compared to almost four million 300 thousand during the first government of President Luis Abinader, in 2020.

The bank report indicated that in the last four years some 733 thousand 600 jobs were created, adding that, of almost 173 thousand created this year, only some 29 thousand 442 are informal, which means that 83 percent goes to the formal sector.

Accordingly, the total informal employment rate dropped to 55.3 percent, the lowest since the Covid-19 pandemic in 2020.

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