El Salvador’s economy experienced a significant surge in job creation during the first four months of the year, with over 36,000 new job opportunities, according to the Minister of Economy, María Luisa Hayem. This remarkable growth was confirmed through data collected from January to April.
Minister Hayem highlighted that 70% of the national economy’s sectors reported an increase in hiring, signaling a positive trend for the country’s labor market. She emphasized the importance of job growth as it not only provides income for individuals and their families but also contributes to the dynamism of communities throughout the territory.
Several sectors played a pivotal role in this employment surge. Notably, the construction and architecture sector saw a remarkable increase of more than 8,800 jobs when compared to the same period in 2022. Additionally, call centers, restaurants, mobile food services, retail distribution of new products in specialized stores, road freight transportation, retail distribution of hardware, and healthcare activities were among the main drivers of job opportunities.
Minister Hayem underscored the significance of the call center sector, particularly for the young workforce, given its highly competitive salary structure. She also highlighted the tourism industry’s recent growth as a catalyst for related activities, notably benefiting the restaurant sector, which demanded a substantial increase in human capital during the first four months of the year.
For a small nation like El Salvador, the services sector is of utmost importance, as its primary asset lies in its people. The minister emphasized the enormous opportunities this sector presents for the country’s economic growth.
Nevertheless, the Minister clarified that the job market’s positive outlook extended to over 70% of the national economy, as most sectors experienced an upsurge in hiring demands.
According to the Minister of Economy, the upward trend in employment is expected to gain further momentum due to the government’s pro-business initiatives. The country has undertaken 12 institutional actions to bolster economic growth, including measures to facilitate trade and investment, talent development, and regulatory improvements.
Looking ahead, Minister Hayem expressed optimism for the second half of the year, anticipating positive news for El Salvador. She revealed that negotiations with various international companies interested in establishing operations in the country are progressing well and could materialize in the near future.
El Salvador is now among the shortlisted countries being considered by international companies for potential business ventures, a promising development for the nation’s economic prospects, as stated by the Minister.
In conclusion, El Salvador’s economic growth, fueled by the significant increase in job creation during the first four months of the year, showcases the country’s potential for attracting foreign investments and fostering a dynamic and prosperous business environment. With various sectors driving this growth, the government’s commitment to promoting investment and creating a skilled workforce is expected to further strengthen the country’s position in the global market.