Peru’s economy developed into one of the strongest and fastest growing in Latin America since the new millennium. But as Lima’s Chamber of Commerce (CCL) through its Institute of Economy and Company Development (IEDEP) informed yesterday still 11.7 million people in Peru worked in the informal sector in 2016.
That’s 72% of Peru’s economically active population and actually means that only 28% of the country’s economically active population was employed properly, paid taxes, received benefits, enjoyed paid vacation and had health insurance in the previous year.
From the 11.7 million workers in the informal sector 21.4% (2.5 million) were between 14 and 24 years old, 45.3% (5.3 million) between 25 and 44 years old, 26.5% (3.1 million) between 45 and 64 years old and 6.8% (0.8 million) 65 or older.
And even though informal employment decreased by 8% since 2007, César Peñaranda, director of the Institute of Economy and Company Development (IEDEP) emphasized that the progress in this area is extremely insufficient.