The Central Bank of the Dominican Republic released results from its National Continuous Labour Force Survey for October to December 2024, reporting record-high employment alongside historically low open unemployment and informality. Total employment reached 5,050,930 people, up 97,988 versus the same period in 2023, while the open unemployment rate (SU1) fell to 4.8% from 5.0%. The employment increase was driven by a rise of 140,669 formal workers and a decline of 42,681 informal workers, taking the informality rate to 54.8% of the employed population. The employment-to-working-age-population rate reached 62.3%, up 0.6 percentage points year on year, and private sector employee roles increased by 109,950, with the largest job gains in industry, construction, commerce and other services. Broader labour underutilisation (SU3) declined to 9.4% from 10.7%, while average hourly labour income rose 10.1% in nominal terms to DOP 151.50 in 2024, equivalent to 7.1% growth in real terms; the release also cites official figures showing monetary poverty at 20.8% in the third quarter of 2024 versus 24.4% a year earlier.
Central Bank of the Dominican Republic 2025-02-12
Central Bank of the Dominican Republic publishes labour force survey showing open unemployment at 4.8% and 97,988 net new jobs in Q4 2024
The Central Bank of the Dominican Republic reported record-high employment and historically low open unemployment and informality for October to December 2024. Total employment rose to 5,050,930, with a significant increase in formal workers and a decrease in informal workers, reducing the informality rate to 54.8%. Average hourly labour income increased by 10.1% nominally, while monetary poverty decreased to 20.8% in Q3 2024 from 24.4% a year earlier.