Even though most Latin American countries are facing an economic slowdown and employment contraction, the World Bank states that the Peruvian economy shall grow 2.79% in 2015 and 3.62% in 2016. Despite the fact that several South American countries have started enduring the negative effects economic slowdown has on labour markets, Peru still has satisfying numbers.

According to the National Institute of Statistics of Peru, the Peruvian labour market grew 1.2% in the last quarter. During July, August and September 2015 56.000 new jobs were created in the different economic sectors of the country.

The country’s labour market has 4.675.000 jobs, which account for 93.6% of the economically active population. These numbers do not consider the informal sector.

There was a 2.6% increase in the number of jobs created in different social segments for people younger than 25 years old. Around 20.000 of these persons have a college degree.

This is not the only good news the Andean country has as regards employment. During the Annual Meetings of the Boards of Governors of the IMF and the World Bank, the Minister of Labour and Employment of Peru, Daniel Maurate, had a reunion with the Minister of Labour and Social Security of El Salvador, Sandra Guevara Pérez, in which they shared experiences and knowledge concerning the labour sector of both countries.

Peru and El Salvador aim to implement fair labour practices and study the articulation between the State and the population. Guevara Pérez assured she is interested in the Peruvian initiative of the National Employment Service, which enables the match between companies and workers’ needs in the changing conditions of the labour market.

Maurate stated that Peru is interested in the processes of Normalization and Certification of Labour Skills developed in El Salvador, as well as in the contributions that can be made from the country’s Labour Market Observatory.

During January 2016 the “V Meeting of the Commission of Technical and Scientific Cooperation between Peru and El Salvador” will be developed. The event is the perfect opportunity for the Ministries of Labour of both countries to introduce international cooperation projects properly financed by both parties.