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Costa Rica
- Recruitment landscape
- Economic indicators
- Labor market
- Working life
Your global agency guide to...
Costa Rica
Costa Rica, with a GDP of $86.5 billion, ranks as the 71st largest economy globally. It boasts industries like medical equipment, food processing, and textiles. A small country with a stable working population, its 8.3% unemployment rate reflects moderate job market challenges. Recruitment agencies are few, focusing on key sectors. Gender disparity in labor participation is notable.
Costa Rica'S
AGENCY LANDSCAPE
500
Agencies operating in Costa Rica
A high number of agencies indicates a mature recruitment industry, marked by strong talent demand, established labor laws and economic stability.
14-18%
Typical fee range
Countries with higher fees imply finding talent is harder to find whilst lower fees indicate a high-volume, commoditized market.
Costa Rica'S
FEATURED AGENCIES
Wisdom Consultores
Multiplica Talent
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Costa Rica'S
GROSS DOMESTIC PRODUCT (GDP) RATING
71
WORLD RANKED
Costa Rica ranks 71st in the world by current economic output
$86B
NOMINAL GDP (US$)
GDP reflects the overall size and economic strength of the country’s economy.
10
LATAM RANKED
Costa Rica is the 10th biggest GDP in LATAM out of 20 countries in the region
GDP GROWTH (%)
The above chart compares how Costa Rica's GDP has grown, compared to the rest of the world and the LATAM region in the last 7 years.
Positive growth indicates an expanding economy, while negative growth or recession signifies economic contraction. Strong growth can encourage hiring, but slower growth might lead to freezes or layoffs, influencing talent sourcing as businesses adapt to changing market conditions and demands.
Costa Rica'S
CURRENCY AND CODE
₡
Country currency
CRI
Country ISO code
Costa Rica'S
INFLATION RATE
0.3%
CURRENT RATE
▼0.2% REDUCTION
Inflation represents the rate at which prices rise and purchasing power diminishes. High inflation may prompt employees to seek higher wages, potentially impacting company profitability. This situation could lead to budget constraints or hiring freezes, which might influence talent availability and sourcing strategies.
Costa Rica'S
COST OF LIVING
COST OF LIVING INDEX EXPLAINED
The cost of living has a direct impact on salary expectations and the competitiveness of compensation packages. It can influence the appeal of certain locations-while high-cost areas may attract highly skilled professionals looking for higher salaries, lower-cost areas can appeal to companies looking to minimize salary expenses or candidates seeking a better work-life balance.
Costa Rica'S
LABOUR STATISTICS
4.3M
POPULATION
With a population of 4,301,712, Costa Rica is a small sized country by global standards. Costa Rica's youth population is close to the world average, suggesting a consistent influx of new workers, but may not see any significant growth. The working population in Costa Rica is close to the world average, suggesting a stable labor market that can adequately meet the economy's demands. Costa Rica's elderly population is close to the world average, suggesting a manageable dependency ratio, where the working-age population can effectively support the elderly.
Costa Rica'S
RELIGION AND ETHNICITY
Religion
In religiously diverse countries, a broad sourcing and engagement approach whilst appealing to inclusive practices resonates with this candidate market. In contrast, in a homogeneous religious environment, understanding dominant cultural norms is often more important when engaging with talent.
Ethnicity
In ethnically diverse countries, there may be a greater variety of candidates with different cultural backgrounds and experiences. Employers may need to focus more on inclusive hiring practices to ensure they attract talent from across different ethnic groups.
Costa Rica'S
UNEMPLOYMENT RATE
8.3%
CURRENT PERCENTAGE
▼3.02% REDUCTION
Costa Rica has an unhealthy unemployment rate, suggesting there may be some economic or structural challenges . Between 2022 and 2023, there was a large decrease, suggesting a positive shift toward better economic stability with significant improvement in job availability
Costa Rica'S
TOP PERFORMING INDUSTRIES
Top industries
Medical equipment
Food processing
Textiles and clothing
Costa Rica'S
GENDER DEMOGRAPHICS
RATIO OF MALES TO FEMALES (BY AGE)
LABOUR PARTICIPATION BY GENDER (%)
71
/
45
Male | Female
In Costa Rica there is a large gap in participation rates between males and females, indicating significant structural or cultural barriers preventing more equal gender parity.
Costa Rica'S
WORKING LIFE
$18K
Average gross annual wage (US$)
This figure represents yearly income before taxes. Higher wage countries are above $50,000 USD. Attracting talent in lower-wage markets can be cost-effective; however, offering above-average compensation may be required for in-demand skills.
$1.5K
Average gross monthly wage (US$)
This figure represents monthly income before taxes. Higher-wage countries typically exceed $4,000 USD per month. Attracting talent in lower-wage markets can be cost-effective; however, offering above-average monthly compensation may be necessary for in-demand skills.
Costa Rica'S
WORKING LIFE
40HRS
Average working full time week
Standard work hours are 8 per day, 40 weekly, Monday to Friday. Overtime pay applies for hours beyond these limits.
Costa Rica'S
TOP BENEFITS
120DAYS
Maternity leave
Maternity Leave: 120 days at full pay (50% employer, 50% CCSS), with an extension for illness. Paternity Leave: 1 month paid for public sector only. No parental leave law in Costa Rica.
3DAYS
Sick leave
Employees can take unlimited sick leave, receiving full pay for the first 3 days from employers, and 60% from the 4th day by CCSS. Employers must continue paying CCSS premiums during the leave.
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