Peru’s Employment Seen Up 4.5 Percent In 2012

Employment in Peru is expected to increase 4.5 percent this year, thanks to an increase in private-sector investments, Scotiabank Peru said, according to state news agency Andina.

Pablo Nano, an analyst at Scotiabank Peru, the country’s third biggest bank, said that private-sector investments are expected to rise 12 percent in 2012.

Nano said that employment in Peru increased 4.1 percent in May, which was the fastest rate of growth so far this month. The analyst expects employment to increase at a faster rate in the second half of 2012.

In the first five months of 2012, formal employment in urban centers rose 3.7 percent, down from the 5.4 percent reported in all of 2011.

The slower growth in employment follows slower growth in the country’s gross domestic product. In 2011, Peru’s economy gained 6.9 percent, while in the January to May period it increased 5.8 percent.

Peru’s GDP is expected to grow between 5.5 percent and 6.0 percent in all of 2012. On Monday, Julio Velarde, the head of the Central Bank, said that Peru’s GDP probably expanded by over 6.0 percent in June, local media reported.

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