A. M. 
The Ministry of Labor of El Salvador, headed by Minister Rolando Castro, has released the most recent data on the labor market in the country, which show significant growth in the formal sector. As of august 2024, formal employment has registered an inter-annual increase of 2.4%, reaching a total of 1,013,167 jobs.
This increase in formal employment reflects the confidence of the private sector in the salvadoran economy, and is also supported by the creation of new companies. During 2024, the country has registered an 8.3% growth in the opening of new businesses, which is equivalent to 2,780 additional companies. This is a sign of the favorable climate and legal certainty that the country offers investors.
In addition, the ministry’s report highlights that the pension gap, which had been a concern for many workers, has been completely eliminated. This progress contributes to ensuring a more stable future for the working class and strengthens the country’s pension system.
As for the distribution of contributing workers, the report indicates that 31% of them are in sectors such as commerce, restaurants, transportation, lodging and food services. This is followed by manufacturing and industrial activities with 23%, while professional activities represent 20%, services 10% and the financial activities and insurance sector 4%.
The Ministry of Labor continues working to strengthen the relationship between employers and workers, thus fostering a positive work environment that contributes to the economic and social development of El Salvador.
