“Dominican Republic Leads LatAm Employment Growth”: ECLAC

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The Dominican Republic recorded the highest employment growth in Latin America during the first half of 2024, while Costa Rica and Peru experienced declines, according to data from the Economic Commission for Latin America and the Caribbean (ECLAC).

The Caribbean nation’s workforce expanded by 5.7%, driving the unemployment rate to a record low as booming tourism and other services sector segments fueled job creation. Chile and Bolivia also saw notable employment growth, with increases of 4.7% and 4.6%, respectively.

Overall, 11 countries in the region reported employment growth, while 4 experienced workforce contractions. Argentina and Trinidad and Tobago both saw declines of 4%, raising concerns about labor market stability in those nations.

In the Dominican Republic, the services sector has absorbed workers from agriculture and manufacturing, according to local media reports. The booming tourism and logistics industries are helping to cushion the economy against potential future shocks.

The services sector in the Dominican Republic includes a wide range of jobs, from high-skilled roles in finance and technology to lower-skilled positions in hospitality and retail. This diversity offers flexibility and opportunities for workers across various skill levels.

The country is also home to more than 70 software development companies, including Microsoft, Oracle, and Hewlett-Packard. However, many of these firms focus on domestic operations rather than exporting IT services. The Dominican Republic excels in contact center services, which benefit from tax incentives and free trade zone advantages.

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“Dominican Republic Leads LatAm Employment Growth”: ECLAC

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