The formal Dominican labor market continues its recovery process after being hit by the coronavirus pandemic last March, which forced employers to suspend thousands of workers and cancel elsewhere.
Last October, the Social Security Treasury (TSS) registered 2,009,779 contributing employees, a figure that, although still below recorded in March 2020, represents an improvement compared to the months between April and September.
At the end of March, 2,250,140 workers were listed on the TSS, a number that in May – the worst month so far this year – fell to 1,717,798: At that time, the loss was 532,342 jobs, a figure that has since gone improving as the economy has begun to return to normal.
According to the number of contributors last October, the Dominican economy needs to generate 240,361 jobs to return to the levels it exhibited in March when the state of emergency was declared. Part of the economic activities was paralyzed.
In the last five months, the economy generated 291,981 formal jobs, more than half of the formal jobs that were lost due to COVID-19. On average, the Dominican economy is generating almost 58,400 monthly jobs, measured from May to October.