Trujillo: there is 10% unemployment in the youth population

The labor force in Trujillo has decreased and this is affecting young people between the ages of 14 and 24 more, where 10 out of 100 young people are unemployed, while 81% of these young people are in the informal sector.

Francisco Huerta Benites dean of the College of Economists de La Libertad points out that the lack of public and private investment is opening more socioeconomic gaps. And according to the data that he manages after the pandemic of 100 women who work, 6 are unemployed.

“The regional labor market of Freedom it is precarious and even more so for the young and female labor force. For example, in Trujillo the informality of all workers reaches 63.3% of the labor force, but in those from 14 to 24 years of age, informality reaches 80.7%. In the case of unemployment, in Trujillo it is 4.5%; however, in women it reaches 5.7% more than general unemployment; and, in ages between 14 and 24, unemployment is 9.9%, practically double the figure for general unemployment in Trujillo. In the case of the La Libertad region, it is not very different”, adds Francisco Huerta.

informal jobs

The dean of economists pointed out that there is concern for the young people who are in the informality which is 81% a strong number.

“These young people who do not have a pension fund, do not have future conditions for pensions, poor health care, among others. That is why we say that it is a precarious, informal market, high underemployment, real wages lower than the pre-pandemic and participating is affecting these young people and women, where conditions are harsher with this reality”, expressed

“In La Libertad, the employed labor force is close to 1.1 million, of this figure, 43% is independent, while 74% work informally and only 68% are in companies with 1 to 5 workers where 38% is in service activity. The real income of the labor force has decreased on average, compared to the pre-pandemic situation”, details the economist.

Better conditions

Francisco Huerta also indicated that it is important to strengthen and create the conditions for the development of private investment, associated investment, works for taxes, public private partnership. “It is necessary that in the region the three levels invest up to now an average of 26% of execution of public investment and the country rate goes for that percentage.”

The specialist explained that, in Peru the economy will grow less than 2%, in La Libertad it will grow 2.3% partly due to the statistical effect because last year it grew by 1.7%.

“We have a speculative economy”

60% of the population of Freedom (2 million) are vulnerable, 28% are poor, even this must be added a 32% vulnerable poor who earn S/ 13.80 daily, this is the poverty line if you spend less than this figure you are monetary poor.

Given the low supply, these people must deal with price speculation to purchase their products. “There is a problem in the markets, there is a speculative economy for various reasons, the avian flu, the soybean due to conflicts, the Yaku cyclone, all of this affected the supply of food and prices rise,” says Huertas.