Unemployment in DR is above regional levels
Legislator Victor (Ito) Bisono says that the economic model in the Dominican Republic is based on political patronage. This he says has resulted in instability that can only worsen in the future. He warned that the International Labor Organization’s July statistics show that the regional unemployment rate in Latin America and Caribbean is 6%, while in the DR it is 15%. Bisono says the high unemployment rate has been the same over the past decade and forecasts are for it to continue to grow. In recent years, the government has created 70% of the jobs in the formal sector. Most Dominicans currently work in informal jobs.
The PRSC legislator says that the current economic model is sustained by the government taking on debt, deficit spending, political patronage and a state that competes with the private sector. He concludes that this has resulted in the country having a higher jobless rate than the regional average for Latin America and the Caribbean.
Source: DR1, Eldia
Category: DR News |