Bolivia creates 1.1 million jobs in 2021

RIO DE JANEIRO, BRAZIL – The Bolivian Minister of Economy, Marcelo Montenegro, informed this Tuesday that around 1.1 million nationals joined labor centers during 2021, which constituted another indicator of the economic growth in that country.

In this sense, the head of the economic portfolio specified that the number of unemployed decreased from 11.6 percent to 5 percent; that is to say that 1.1 million more people are linked to the labor market, either in state or private jobs.

Read also: Check out our coverage on Bolivia

“The economy has recovered, the six percent growth rate is not negligible, with a decrease in unemployment, inflation, and deficit under control, the trade balance is positive, and exports are growing”, stated Montenegro.

On the other hand, the high official detailed that during 2020, some 3.1 million Bolivians were employed, while in the last 12 months, this figure grew to 4.2 million Bolivians employed.

It should be noted that sectors such as tourism, inactive since the beginning of the pandemic in 2020, have been boosted with more significant activity in branches such as hotels and gastronomy.

According to Montenegro, it is also evident, the reduction of youth unemployment from 19.2 percent, in July 2020, to 7.5 percent by October 2021.

“The outlook for 2022 is to continue improving in employment and income, in addition to greater dynamics in construction, transportation, manufacturing, mining, and other sectors,” said the Minister of Economy of the South American country.