Labor shortages boost wages in region
Competition is heating up in Central America for labor in sectors such as agriculture, construction and domestic service.
Friday, April 25, 2008
Wages are increasing rapidly because of the shortage in Panama, Costa Rica and El Salvador.
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Costa Rica and Panama will have to import about 300,000 workers over the next few years to ensure the harvest of their agricultural products and the modernization of the Panama Canal, an official from the International Organization for Migration (IOM) says.
The human resources consulting firm Manpower will hold its first regional employment fair April 24-26. It hopes to fill 400 vacancies for technicians and professionals for its local and international clients.
The cost of labor is critical for textile companies which migrate from Honduras to El Salvador and Nicaragua, where wages are lower.
The consequences only could be offset by investing in education and technology and increase the added value of export products.
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