Between January and July 2013 there were 159,866 new labor contracts marking a growth of 14%.The data was provided by the Ministry of Labor and Workforce Development.
37% of the contracts were permanent, 29% temporary and the rest were for projects that had a fixed completion date. The sectors with the greatest number of contracts included construction, hotels, restaurants and wholesale and retail trade. Human Resources consultants were positive about the number of permanent contracts as it is a sign that companies have long-term projects which boosts the economy of the country. Unemployment rate has been reduced to 4%, the smallest rate ever recorded.
