This year 8,923 more companies are registered than in 2020

The period of pandemic caused by the virus Covid-19 destroyed companies and thousands of jobs both internationally and in the Dominican Republic job market.

This crisis forced a reinvention of business opportunities and still pushed many people to undertake ideas and projects to finance themselves and survive.

Although the country still has not managed to recover the jobs lost in 2020, the August figures show a growth in the number of formal companies operating in the country, something that seems to be contradictory but that is posed by the data exposed in the Dominican Social Security System (SDSS).

As of August this year, the figures indicate that there are 101,246 active formal companies in the Dominican labor market, some 8,923 more than those registered in 2020 and 9,783 more than in 2019.

99.37% of these companies are located in the private sector (100,612) with 1,603,194 workers. 0.55% (560) are public companies with 297,712 employees and 0.07% (74) are centralized public companies with a record of 344,304 jobs.

In total, the CNSS statistics specify that there are 2,245,210 people formally employed in the System, about 128,160 more than those that were reported in 2020, but 10,503 less than those that were in 2019.

Companies with less than 100 employees represent 34% of the total registered, while 16.2% are in the range of 100 to 500 employees and 49.8% of companies affiliated with Social Security register between 500 and 10,000 jobs.

CNSS data indicate that there are ten large institutions that employ a total of 418,813 people, 18.7% of the total salaried workers registered in the SDSS.

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RD $ 22,570 Average salary
The average salary in private companies is RD $ 22,570, according to the monthly bulletin as of August from the CNSS.

In public companies, the average salary is RD $ 31,721 and in decentralized public companies it is RD $ 39,394.00.

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