Costa Rica, Peru and Chile are the countries in the world that lost the highest percentage of employment between March and July of this year as a result of the COVID-19 pandemic, according to a study by the Santiago de Chile Chamber of Commerce (CCS ) released this Monday.
Latin America appears as the hardest hit in the report, with six countries in the top ten on the list of those that have lost the most percentage of employment in that time.
Thus, to the aforementioned cases of Peru (39%), Costa Rica (21%) and Chile (21%) are added Colombia (12%), Brazil (10%) and Argentina (7%).
The top ten of the list are completed by the Philippines (21%), Egypt and Armenia (both with 10% drops), and the United States (8%).
The report points out that “the common factor in the evolution of the labor markets has been the loss of jobs from contagion containment measures” as well as “the abandonment of the work force by the newly unemployed due to the lack of expectations “because a large part of economic activities are restricted.
“The above explains why the impact has been much stronger in terms of employment than in the unemployment rate (if people leave the labor force, they are no longer counted as unemployed),” the document explains.
Of the countries that have up-to-date information, 51 show decreases of varying magnitude in their employment, and only 9 show increases, albeit moderate, highlighting the case of Austria (6%) and China (9%).