More than 254,000 have been unemployed due to Covid
As of October 31, the Social Security Treasury registered 3,351 fewer employers or companies than in October 2019.
Santo Domingo, DR
The crisis that the Covid-19 pandemic has caused to the Dominican economy is reflected in the number of companies that have stopped contributing to the Social Security Treasury (TSS) and the number of workers left without jobs.
The figures vary from month to month, but as of October 31, the Social Security Treasury registered some 3,351 fewer employers or companies than in October 2019 and 254,565 workers who stopped contributing, or rather, who no longer have formal jobs.
Of the total number of employers who stopped contributing to the Social Security System, 62.45% (2,093) belong to companies with 16 to 50 workers, 14.20% (476) belong to companies with 51 to 100 workers, and 10.71%(359) belong to companies with payrolls of 1 to 15 employees.
These numbers reflect the fact that the economic crisis to date has hit small businesses the hardest.
Companies and ranges
These are followed by 351 companies (10.47%) with a range of 101 to 500 workers, as well as 53 companies (0.01%) in the range of 501 to 1,000 employees and 19 employers (0.56%) with 1,001 to 5,000 workers. The company with the most massive volume of employees (more than 5,000) remained stable with a record of 23 in the TSS, the same number they had as of October 2019.
Those who stopped contributing
In the case of the number of workers who stopped contributing to Social Security as of October 2020, 25.79% (65,654 people) belonged to companies with between 101 and 500 employees, followed by 22.04% (56,125 people) who were in companies with between 16 and 50 workers on the payroll.
16.98% (43,241) of workers outside the TSS correspond to those who worked at companies with a range of workers between 1,001 and 5,000, followed by 14.95% (38,072) of companies payrolls of 501 to 1,000 employees.
It is noteworthy that companies with more than 5,000 employees on the payroll registered an increase of 10,862 workers on the payroll, compared to October last year. In 2019, they had 485,350 contributing employees, and in 2020, 496,212 are registered.
Currently, the Social Security Treasury has 87,994 registered companies with a total of 2,009,779 workers.
As of June 30, the Social Security Treasury (TSS) database reflected a decrease of 9,082 employers or companies contributing to social security compared to June 2019. The number of active employers going from 88,908 to 79,826.