Unemployment Rate: Peru

Analysis# Peru Unemployment Rate Peru's unemployment rate stands at 6.5% in 2026, reflecting a labor market that has largely stabilized following pandemic disruptions. This figure sits well below the catastrophic 13% peak recorded in 2020, though modestly above the 4.2% all-time low achieved in 1988. Since 1980, Peru has achieved an 11-percentage-point improvement overall, demonstrating long-term progress despite cyclical volatility. The most striking shift occurred between 2020 and 2021, when unemployment plummeted 2.3 percentage points as economic recovery accelerated. From 2021 onward, the rate has steadily declined from 10.7% to the current 6.5%, indicating sustained labor market healing. Projections suggest the unemployment rate will hold near current levels through 2026, pointing toward a normalized equilibrium rather than further material improvement.