Unemployment in Peru

Peru Unemployment | Economic News & Forecasts

Peru - Unemployment

President Martin Vizcarra swore in Salvador del Solar as his new prime minister on 11 March, following the resignation of César Villanueva, likely due to Vizcarra’s languishing approval ratings. Analysts expect the move to be followed by a further shake-up in the cabinet. Political turbulence comes against a backdrop of solid economic data. GDP growth jumped in Q4 2018, powered by a notable turnaround in external demand and a significant acceleration in domestic demand. The improved economic performance in 2018 translated into a noteworthy increase in tax revenue in the year, which contributed to a reduction in the fiscal deficit. Moreover, the economy appears to have remained on a solid footing at the outset of 2019: In January, tax revenue continued to rise robustly and credit growth remained buoyant. Moreover, consumer confidence rebounded strongly in February, and business confidence was upbeat in January-February.

Peru - Unemployment Data

2013  2014  2015  2016  2017  
Unemployment Rate6.0  5.9  6.5  6.7  6.9  

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Peru Unemployment Chart


Peru Unemployment
Note: Unemployment in % of active population.
Source: Peru National Statistical Institute and FocusEconomics calculations.

Peru Facts

ValueChangeDate
Bond Yield5.43-0.60 %Oct 15
Exchange Rate3.31-0.06 %Mar 11
Stock Market20,661-0.23 %Mar 11

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Economic News

  • Peru: Economic activity growth cools in January

    March 15, 2019

    Economic activity expanded 1.6% year-on-year in January, decelerating sharply from December’s strong 4.7% increase and marking the weakest reading in over one year. Growth came on the back of resilient consumer spending, as well as a strong expansion in non-traditional exports.

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  • Peru: Inflation broadly stable in February

    March 8, 2019

    Consumer prices in Metropolitan Lima increased 0.13% over the previous month in February, slightly up from January’s 0.07% month-on-month rise.

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  • Peru: Trade surplus narrows in January on falling exports

    March 8, 2019

    Peru’s trade balance recorded a USD 374 million surplus in January, narrowing from December’s USD 1.1 billion surplus and lower than the USD 684 million surplus recorded in the same month of last year. Exports declined 6.2% year-on-year in January, following December’s sharper 7.4% fall.

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  • Peru: Consumer confidence surges in February

    March 8, 2019

    The consumer confidence indicator published by GfK jumped to 104 in February from 93 in January, marking the best result in over two years.

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  • Peru: Business confidence moves further into optimistic territory in February

    March 8, 2019

    The business confidence indicator ticked from January’s 58.0 to 59.0 in February, and thus moved further above the 50-point threshold that separates optimism from pessimism, where it has been for almost two years. A broad-based albeit limited improvement in short- and longer-term expectations was behind the positive development.

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