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Peru
- Recruitment landscape
- Economic indicators
- Labor market
- Working life
Your global agency guide to...
Peru
Peru, with a GDP of $267.6 billion, ranks 49th globally. Its top industries include mining, petroleum, and textiles. With a population of 32.6 million, Peru has a stable working-age demographic, leading to a steady labor market. A 4.8% unemployment rate signals job availability, and the country has a moderate number of recruitment agencies.
Peru'S
AGENCY LANDSCAPE
500
Agencies operating in Peru
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.
Peru'S
FEATURED AGENCIES
Adecco Group
Manpower Group
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Peru'S
GROSS DOMESTIC PRODUCT (GDP) RATING
49
WORLD RANKED
Peru ranks 49th in the world by current economic output
$268B
NOMINAL GDP (US$)
GDP reflects the overall size and economic strength of the country’s economy.
6
LATAM RANKED
Peru is the 6th biggest GDP in LATAM out of 20 countries in the region
GDP GROWTH (%)
The above chart compares how Peru'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.
Peru'S
CURRENCY AND CODE
S/.
Country currency
PER
Country ISO code
Peru'S
INFLATION RATE
2.3%
CURRENT RATE
▼4% 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.
Peru'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.
Peru'S
LABOUR STATISTICS
33M
POPULATION
With a population of 32,625,900, Peru is a medium sized country by global standards. Peru'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 Peru is close to the world average, suggesting a stable labor market that can adequately meet the economy's demands. Peru's elderly population is close to the world average, suggesting a manageable dependency ratio, where the working-age population can effectively support the elderly.
Peru'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.
Peru'S
UNEMPLOYMENT RATE
4.8%
CURRENT PERCENTAGE
▲0.97% INCREASE
Peru's unemployment rate is healthy, indicating a well functioning labor market with good job opportunities for most people. Between 2022 and 2023, there was a moderate increase in unemployment, suggesting a negative shift in economic stability with a slight dip in job availability
Peru'S
TOP PERFORMING INDUSTRIES
Top industries
Mining and refining of minerals
Petroleum extraction and refining
Natural gas and natural gas liquefaction
Peru'S
GENDER DEMOGRAPHICS
RATIO OF MALES TO FEMALES (BY AGE)
LABOUR PARTICIPATION BY GENDER (%)
80
/
66
Male | Female
In Peru there is a medium gap in participation rates between males and females, indicating moderate inequality with some progress towards gender parity.
Peru'S
WORKING LIFE
14DAYS
Minimum annual holidays
Minimum annual holidays reflect mandated leave. Hiring in countries with high allowances (over 25 days) will require emphasizing work-life balance when recruiting. In countries with fewer holidays (under 15 days), offering additional leave can enhance recruitment and set the organization apart.
Peru'S
TOP BENEFITS
98DAYS
Maternity leave
Maternity: 98 days paid leave, full salary covered by Essalud; paternity: 10 days full pay, covered by employer; no official parental leave in Peru.
20DAYS
Sick leave
Employees get up to 20 days of paid sick leave from employers. Afterward, if still ill, Essalud health insurance covers full salary for up to a year.
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