Service Sector Leads Employment Recovery in Paraguay

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Paraguay’s service sector leads employment recovery in 2024. Increased workforce, cross-border trade, and infrastructure investment are key factors.

Paraguay’s labor market is experiencing positive evolution, according to the latest data presented by the National Statistics Institute for the last quarter of 2024. The analysis reveals notable growth in the service sector, which is consolidating its position as the main employment generator in the national economy, highlighting this sector’s resilience against the automation affecting other areas.

Official statistics show that the Paraguayan workforce reached 3,139,430 workers during the fourth quarter of 2024, representing 71.4% of the population over 15 years of age. This indicator registered an increase of 0.3 percentage points compared to the same period in 2023, which means an incorporation of 37,823 people into the labor market.

Economist Manuel Ferreira, former Minister of Finance, points out that the service sector shows a significant upturn in job creation. This growth is mainly attributed to the nature of the sector, where human presence continues to be indispensable, unlike the industrial sector, which is experiencing increasing mechanization. The resurgence of commerce within the service sector is identified as the main driver of this labor expansion.