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HomeTrendingUnemployment Rate Hits Record Low of 4.7 Percent

Unemployment Rate Hits Record Low of 4.7 Percent

Unemployment Rate Hits Record Low of 4.7 Percent


Calls for more collaboration for technology training, key to increasing productivity and generating more employment. Punta Cana, Higüey. The president, Luis Abinader, highlighted that unemployment is 4.7%, the lowest figure in recent years. And that in 2022, 34% of new workers were young people in their first job.

He stated that the nominal minimum wage has increased by 43 percent after two wage increases, and the absolute minimum wage, discounting inflation, increased by 21 percent from August 2020 to October 2023. He said this has boosted the average wage of the entire economy.

The president offered these details when delivering the opening speech of the 46th meeting of the ILO-CINTERFOR Technical Commission (RCT) held in Punta Cana. This event brings together representatives of more than 50 vocational technical training institutions from 27 countries.

Abinader called for South-South collaboration between the partners participating in the meeting to strengthen training in technological branches, since this is the key to increasing productivity and generating more employment.

He highlighted that in 2020, the National Institute of Vocational Technical Training (Infotep) had only seven facilities, and today there are 38 throughout the country, which he considered a revolution since more than two million workers are trained in careers and technical courses. He congratulated Infotep for hosting this ILO-CINTERFOR meeting because it promoted technical and professional training.

At the event, the director general of the International Labor Organization (ILO), Gilbert F. Houngbo, explained that developing competencies and learning skills is essential for workers to adapt to technological changes and the requirements of companies. These are essential to building resilience in companies, labor markets and workers in the Americas. He indicated that policies are needed for people to further develop their skills.

Editorial
Editorialhttps://puntacanatoday.com
Meet Mia, a talented and experienced real estate journalist based in Punta Cana. With a passion for writing, Mia has been contributing articles to PuntaCanaToday®, a leading publication in the real estate industry known for their in-depth research and analysis, Mia covers a range of topics related to the Punta Cana real estate market, from the latest trends and developments to expert insights and advice for buyers and sellers. With a keen eye for detail and a dedication to their craft, Mia is committed to providing readers with accurate, informative, and engaging content. Mia Rodriguez: Editor-in-Chief of PuntaCanaToday® Mia Rodriguez is a dynamic and visionary leader in the realm of journalism, best known as the Editor-in-Chief of PuntaCanaToday®, a prominent newspaper dedicated to providing unparalleled insights into the vibrant landscape of Punta Cana. With an unquenchable passion for fostering informed discussions and driving positive change, Mia has emerged as a pivotal figure in shaping the narrative of Investments, Construction, Real Estate, and Tourism within the region. Born and raised in Punta Cana, Mia's deep-rooted connection to the local culture, coupled with her exceptional journalistic acumen, has propelled her to the forefront of the media industry. With her ample knowledge in Journalism and Communication, Mia embarked on her career with an unwavering commitment to bring forth compelling stories that resonate with both residents and international audiences. Under Mia's editorial stewardship, PuntaCanaToday® has flourished into a beacon of reliable information, serving as an indispensable resource for investors, entrepreneurs, and tourists seeking to explore the vast potential of Punta Cana. Her keen editorial eye and dedication to accuracy have ensured that the newspaper maintains the highest standards of integrity and credibility. Mia's multifaceted approach to journalism is reflected in the comprehensive coverage PuntaCanaToday® provides. From in-depth analyses of investment trends and construction developments to insightful features on the ever-evolving real estate market and the burgeoning tourism sector, the newspaper has evolved into a trusted companion for anyone looking to stay well-informed about Punta Cana's trajectory. Beyond her role as an editor, Mia Rodriguez remains deeply engaged within the local community, participating in various initiatives aimed at promoting sustainable growth and preserving the cultural heritage of Punta Cana. Her commitment to ethical reporting and her dedication to fostering a sense of unity within the region have garnered her widespread respect and admiration. In a realm where information is a precious commodity, Mia's leadership has solidified PuntaCanaToday® as an indispensable bridge between the past, present, and future of Punta Cana. Through her visionary leadership, Mia continues to shape the narrative of the region, inspiring others to explore its limitless possibilities and contribute to its ongoing success.
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