Lima reaches 5.47 million jobs, but income remains below pre-pandemic levels.

The city of Lima has experienced notable growth in employment, with over 250,000 new people working compared to last year, reaching a total of 5.47 million employed individuals. However, despite this growth in job numbers, incomes have still not managed to recover the levels recorded before the pandemic. This phenomenon has generated concern among economists and analysts, who warn of the need for policies that promote not only job creation but also the improvement of labor incomes. Breaking down the data, it is observed that the segment of individuals aged 45 and older saw the most growth, with an increase of 9.6%. In contrast, young people aged 14 to 24 experienced a decline of 3.3%, highlighting the precariousness of job opportunities in this age group. This situation has led the International Labour Organization (ILO) to express its concern over the lack of youth employment in the country, pointing out that urgent attention is needed to reverse this trend. In sectoral terms, the commerce and construction sectors led job creation, with increases of 9.6% and 9.4%, respectively. Additionally, the manufacturing and services sectors also showed positive growth, exceeding 3%. This diversification in employment areas is an indicator of an economic recovery that, although taking shape, still presents significant challenges. Despite the improvement in employment, the report reveals that the group of underemployed individuals, those in "poor-quality jobs," grew by 4.2% compared to the previous year. This means that over 2.2 million people find themselves in this situation, raising serious questions about the quality and sustainability of the jobs generated in the capital. Paola Herrera, an analyst at the Peruvian Institute of Economy, notes that although there is positive dynamism in employment, the recovery is not equitable. Statistics show that adequate employment has increased by 5.3%, which is a good indicator, but it still only represents 55.1% of the employed economically active population. This figure reflects that a significant portion of workers remains in precarious situations. Juan Carlos Odar, director of Phase Consultores, complements this perspective by stating that the recovery in incomes has been faster for men compared to women, and that older workers have performed better than younger ones. This disparity suggests that companies, in a tight labor market context, may be prioritizing experience over youth, which could limit opportunities for a generation struggling to establish itself economically. The average monthly income in Metropolitan Lima reached S/1,998.1, an increase of 3.2% compared to the previous year. However, when adjusting incomes for inflation, it reveals that they are still 5.4% below pre-pandemic levels. This figure serves as a reminder that although the situation is improving, the recovery is fragile and requires attention. In this scenario, Herrera emphasizes that the future of labor incomes is linked to the overall economic recovery, which largely depends on private investment. This investment is key to generating adequate employment and, consequently, improving the income levels of the population. Odar agrees that an increase in productivity and a recovery of Gross Domestic Product (GDP) are essential for achieving higher wages. This virtuous cycle is fundamental for improving the labor situation in Lima, where conditions have been more favorable compared to other regions of the country, which have faced climatic and supply issues. In conclusion, while Lima shows signs of recovery in employment, the challenge of incomes remains a priority issue. The interconnection between job quality and income levels is clear, and a comprehensive approach will be required to promote both job creation and wage increases so that all Limeños can benefit from economic growth.