Peru’s deputy minister for labor promotion and training Javier Barreda said he expects employment in the country’s formal sector to increase by about 5 – 6 percent in 2010, state news agency Andina reported.
Barreda said that according to figures from Peru’s national private business confederation Confiep that private investment has generated 1.57 million formal jobs in Peru over the last few years.
Despite difficulties in 2009 from the global financial crisis formal employment in Peru was still able to see slight 1.3 percent increase in the number of positions available.
Meanwhile, Barreda said that salaries in Peru’s formal sector have increased by 12 percent over the last three years.
Salaries of workers in Peru’s formal sector have increased by 12 percent over the last three years, according to the country’s labor ministry.
While formal employment has reportedly increased, many Peruvians are still working in the informal economy, outside the purview of the government and without labor benefits.
Information on the size of the informal sector is difficult to obtain, however according to a study by Peru’s San Marcos University, the informal economy accounts for 35 percent of the GDP and 60 percent of working hours.
