Santo Domingo, RD.- The Minister of Labor, Luis Miguel De Camps García, announced today that the Dominican labor market has reached historic figures in the first quarter of 2024, according to the National Continuous Workforce Survey (ENCFT) of the Central Bank. With a total of 4,941,183 employed people, the country has experienced a year-on-year increase of 172,443 new jobs, which represents a growth of 6.3%.
Minister De Camps highlighted that 75% of these new jobs, that is, 130,189, are formal jobs, an unprecedented achievement that reflects the effectiveness of the labor policies promoted by the administration of President Luis Abinader.
“We have reached the highest number of formal jobs in our history, with a total of 2,294,443 formal workers in this first quarter, this represents a reduction in informality by 1.1% compared to the same period last year,” said De Camps.
The official stressed the importance of this growth for the national economy: “An increase in formal jobs compared to informal ones indicates a significant improvement in the quality of employment and in the general economy. Formal jobs offer greater stability and job security, with clear contracts and more effective legal protections.”
In addition, formal workers have access to the Dominican Social Security System, including health insurance, pensions and occupational risk insurance, which improves the general well-being of workers and their families.
De Camps also highlighted the benefits of the increases in the minimum wage implemented through the National Wage Committee, thus guaranteeing a better quality of employment.
The Ministry of Labor, aligned with the policies of the current administration, will continue to implement programs to promote employment growth, wage improvements and continued consensus with the business and worker sectors. “Our objective is to maintain the dynamism of the economy and continue improving the quality of life of all Dominicans,” concluded De Camps.
This historic advance in formal employment not only reflects the strength of current labor policies, but also the government’s commitment to the prosperity and well-being of the nation.
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