Labor market contributions to the achievement of the Sustainable Development Goals (SDG) Agenda 2023.

Sep 25

Aruba’s labor market developments

Increase of the monthly minimum wage on January 1st, 2023 to an amount of Afl. 1893.40. This was an increase of 4.3%.
A record low unemployment rate of 4.3% per November 2022. This means that more people are employed.
An increase in the employment rate with 4.1%. The employment rate stands at 58.1%,this refers to the proportion of people employed relative to the population of 15 years and up.
A youth unemployment rate of 9.9% per November 2022, a decrease of 9.2% compared to 2021.
A decrease in the number of NEETs (Not in Employment, Education or Training), the NEET rate is at 7.8%. This means that more young persons are finding employment or are staying in education.
Revisions have been made to the Admission Labor Market Policy to allow more persons the opportunity to officially participate on the labor market.

In progress

Reevaluation of the current monthly minimum wage by working towards the introduction of a more beneficial minimum hourly rate.
Efforts are made to introduce a new way of registering all employed persons on the labor market, this allows for more effective labor market policy development.
Continuous cooperation and deliberations between labor market policy makers and education policy makers. This is an effort to assure that the needs of the labor market and the skills supplied by young person are balanced.
Research projects regarding young persons’ ages 15 to 29 years are in development and on the agenda to be conducted in the upcoming months.
Planning into further research on the employment of persons 50+ are in development.
Ongoing participation and collaborations are made towards the establishment of Aruba’s National Statistical System.

Minister Glenbert Croes: "The future is bright, as long as we continue to protect Aruba’s development goals"