Employed population of the country reached 17 million 159 thousand 100 persons in the first quarter of 2024

During the first quarter of the current year, the employed population of the country reached 17 million 159 thousand 100 persons, compared with the same quarter of the year 2023 increased in 0.8% (131 thousand 900 persons). This was informed by the National Institute of Statistics and Informatics (INEI) in the technical report PERU: Behavior of the Indicators of the labor market at national level and in 26 cities, prepared with the results of the Permanent Survey of National Employment (EPEN)

By residence area, the employed population of the urban area increased in 2.1% (288 thousand 900); meanwhile, the rural population decreased in 4.5% (-157 thousand).

According to sex, the employed population both male and female grew in 0.9% and 0.6%, respectively, compared to the same period of the year 2023. It is worth to mention that from the total of the employed population of the country, 55.9% (9 million 585 thousand 100) are men and 44.1% (7 million 574 thousand) women.

The INEI informed that in the first quarter of this year, increased the employed population of 45 years old and older in 4.6% (284 thousand 200) and the population of 25 to 44 years old in 0.5% (41 thousand 600). On the other hand, the employment between the population under 25 years old decreased in 6.9% (193 thousand 800).

During the first three months of this year, the population with university superior education grew in 7.1% (237 thousand 600), followed by the group that studied elementary or non-education level in 1.5% (50 thousand 700) and of the population with non-university superior education in 0.5% (15 thousand 700); meanwhile, it decreased among those that studied high-school education in 2.3% (-172 thousand 200).

The employed population increased mainly in the companies of 51 and more employees in 2.6% (82 thousand 900) and establishments of 1 to 10 employees in 0.6% (70 thousand 600). Meanwhile, the employed population in companies of 11 to 50 workers reduced in 1.8% (-21 thousand 600).

According to the branches of activity, the employed population in Commerce grew in 4.8% (145 thousand 800), in Manufacturing grew in 0.7% (10 thousand 500) and Services 0.6% (44 thousand 300); meanwhile, the employed population in Agriculture/Fishing/Mining, decreased in 1.4% (-58 thousand 200) and in Construction 0.9% (-10 thousand 500).

At national level, during the first quarter of 2024, the unemployment rate was of 6.4%. It is worth to mention that the unemployment affected more women (7.6%) than men (5.4%). In addition, the unemployment rate was higher among young people of 14 to 24 years old (12.5%) and those that have university superior education level (8.5%).

During the period April 2023 – March 2024, across the country, the population with suitable employment totalized 8 million 942 thousand 600 persons, increasing in 1.3% (117 thousand 300), compared to the period April 2022 – March 2023. On the other hand, the underemployed population reached 8 million 270 thousand 200 persons and showed a reduction of 2.6% (-224 thousand 400).

During the period April 2023 – March 2024, the average monthly income coming from work, placed in 1,695.20 Soles and grew in 8.2% (128.30 Soles). It also increased in the urban area in 8.5% (145.90 Soles) and in the rural area increased in 2.6% (22.50 Soles).

During the first quarter of this year, in 17 cities of the 26 cities researched, increased the employed population. Therefore, it outstood three cities with performance higher than 10%, such as Trujillo (12.8%), Cusco (12.3%) and Moquegua (10.7%), among others. On the other hand, the EAP employed decreased mainly in the cities of: Cerro de Pasco (11.8%), Tumbes (4.0%) and Ica (3.2%).

The INEI stated that during the first quarter of this year, the cities that registered the highest unemployment rates were Huancavelica (14.5%), Moquegua (14.4%); Cajamarca (12.9%), Cusco (12.5%) and Puno (11.9%). Meanwhile, the cities that registered the lowest rates were Ayacucho (6.5%), Puerto Maldonado (6.4%), Tarapoto (5.8%) and Trujillo (5.7%).

During the period of April 2023 – March 2024, the cities that have the highest rates of informal employment were Pucallpa (74.2%), Ayacucho (72.6%), Tacna (70.9%), Puerto Maldonado (70.7%) and Iquitos (70.0%). On the other hand, the cities that registered the lower incidence were Arequipa and Moquegua (55.6% for both cases), and Ica and Lima Metropolitan area and the Constitutional Province of Callao (57.3% for both cases).