Costa Rican Unemployment is Down to 8.9% in the Third Quarter of 2013

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    The Costa Rica News (TCRN) – The unemployment rate in Costa Rica during the third quarter of 2013 stood at 8.9%, the lowest in the last year, reported the National Institute of Statistics and Census (INEC) published in the Quarterly Employment Survey.

    The 8.9% is lower than the rate of the first and second quarter of 2013, which was 9.6% and 10.4%, respectively, and the third and fourth quarter of 2012 when it was 10% and 9 8%, in that order, INEC said in a statement.

    “After staying at about 10% from the fourth quarter of 2011 to second in 2013, a decrease of the unemployment rate comes to 8.9% (but) this is not necessarily associated with an increase in employment, but a withdrawal from the labor market, where an increase in the population outside the labor force is observed,” said the INEC.

    According to official data, Costa Rica, a country with a population of 4.73 million, has a workforce in 2013 of 2.19 million people, while for the previous quarter it was 2.22 million.

    The unemployed were about 196,000 people in the third quarter, of which 44.5% are aged 15 to 24 years.

    In terms of gender, men’s unemployment reached 7.5% and for women it was 11.1%, according to the INEC. (EFE)

    The Costa Rica News (TCRN)

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