Peru formal private jobs rise 6.1% in July, BCRP reports

Formal private sector employment in Peru grew 6.1% in July compared to the same month last year, adding 268,000 workers to reach 4.7 million, according to the Central Reserve Bank of Peru (BCRP).

The fastest percentage growth occurred in agriculture at 15.9% and mining at 11.7%, despite challenges linked to El Niño Costero. By headcount, the services sector added the most workers with 98,000 hires to reach 2.3 million. Agriculture followed with 78,000 new workers to reach 568,000, and commerce added 48,000 positions to total 799,000.

Companies with more than 50 workers added 173,000 jobs, an increase of 6.2%, bringing their total headcount to nearly 3 million. Firms with more than 500 workers accounted for 149,000 of those new hires, expanding by 8.8% in July to reach 1.8 million employees. On a cumulative basis through July, employment at companies with more than 500 workers increased by 7.2%.

Smaller businesses also expanded payrolls. Companies with 1 to 10 employees grew 6.4%, adding 59,000 positions to total 986,000 workers. Businesses with 11 to 50 employees recorded a 5% gain, adding 35,000 positions to reach 737,000 workers.