About 1.55 million young people work in the private sector without a contract, which is also known as having an informal job.
According to the study “Indicators of labor informality, unemployment and underemployment” that the Ministry of Labor prepared, in 2014 there was a turning point in the comparison between salaried people by age groups.
This means that before the aforementioned year, the informal economically active population of adults (30 or more years) of the private sector was of 1.63 million, and in 2017 in rose to 1.84 million people.
As for people who are between 14 and 29 years old, the number dropped. In 2013 it was of 1.68 million, and last year 1.55 million of informal workers.
“It should be noted that, according to the MTPE (Ministry of Labor and Employment Promotion), informal employment is defined as ‘private salaried employees (employees and workers) without a contract of employment (it includes service providers)”, said Gestión.
“We see these reductions because the dynamics of formal employment generation exceeded that of informal employment,” said Deputy Labor Minister Fernando Cuadros to the aforementioned media.