The unemployment rate in Costa Rica jumped to 11.9 percent in the second quarter of 2019 from 8.7 percent in the same period in the previous year, as the number of unemployed increased by 90 thousand to 296 thousand, while employment advanced 49 thousand to 2.183 million. The employment rate went up to 55.5 percent from 55.6 percent a year earlier and the acitivty rate rose to 63.0 percent from 60.9 percent. Unemployment Rate in Costa Rica averaged 9.77 percent from 2010 until 2019, reaching an all time high of 12 percent in the fourth quarter of 2018 and a record low of 8.30 percent in the fourth quarter of 2013.
Unemployment Rate in Costa Rica is expected to be 9.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Costa Rica to stand at 9.20 in 12 months time. In the long-term, the Costa Rica Unemployment Rate is projected to trend around 17.40 percent in 2020, according to our econometric models.