Peru suffers from high youth unemployment. According to the International Labor Organization, two thirds of unemployed Peruvians are young adults. In order to meet job demand from young people entering the workforce, the country needs to create close to 3 million new jobs by 2020.
Scaleups Are Some of the Largest Job Creators in Peru
Scaleups, which are defined as firms with a minimum of 20% average annual employment growth, could be the key to solving Peru’s unemployment problems. These companies create jobs much faster than other firms. In fact, scaleups contributed to 32% of new job creation in Peru, while representing only 13% of all Peruvian firms, according to a survey conducted by the World Bank.
To download our full report on scaleups in Peru and learn more about its methodology, click on the embedded link below.
Contributed by Jona Afezolli.