What is the Labour force in Sri Lanka?

Labor Force Participation Rate in Sri Lanka averaged 50.46 percent from 1990 until 2021, reaching an all time high of 54.70 percent in the first quarter of 2017 and a record low of 46.90 percent in the third quarter of 1992.

What are the working conditions in Sri Lanka?

Such working conditions include decent wages, hours of work, rest and leave periods, adequate social security, freedom of association, the right to bargain collectively, and an absence of discrimination, forced labour or child labour.

Is Labour cheap in Sri Lanka?

When it comes to labor costs, Sri Lanka is a bargain, considering the size of its economy, according to statistics from the Japanese trade promotion organization known as JETRO. In contrast, a JETRO survey indicates that average salaries in Sri Lanka’s manufacturing sector have not grown much.

What is the unemployment rate in Sri Lanka?

Unemployment refers to the share of the labor force that is without work but available for and seeking employment. Sri Lanka unemployment rate for 2020 was 4.84%, a 0.57% increase from 2019. Sri Lanka unemployment rate for 2019 was 4.27%, a 0.05% decline from 2018.

How many workforce are there in Sri Lanka?

In the latest reports, Sri Lanka Population reached 21.9 million people in Jun 2020. Unemployment Rate of Sri Lanka increased to 5.7 % in Mar 2021….More Indicators for Sri Lanka.

country/region Last
Labour Force (Person) 8,514,766.000 Jun 2021

What is the employment rate in Sri Lanka?

Employment Rate in Sri Lanka averaged 94.88 percent from 2004 until 2021, reaching an all time high of 96.30 percent in the third quarter of 2011 and a record low of 91 percent in the second quarter of 2004.

How many types of Labour law are there?

There are two broad categories of labour law. First, collective labour law relates to the tripartite relationship between employee, employer and union. Second, individual labour law concerns employees’ rights at work and through the contract for work.

What makes up the labor market?

The labor market refers to the supply of and demand for labor, in which employees provide the supply and employers provide the demand. Unemployment rates and labor productivity rates are two important macroeconomic gauges. Individual wages and the number of hours worked are two important microeconomic gauges.

Can basic salary be reduced in Sri Lanka?

23, 2016), Sri Lanka Parliament website.) Act No. 3 also specifies that no employer can reduce the level of wages paid to any employee from the amount paid before the Act came into effect (Act No.

What is the minimum salary in Sri Lanka?

10,000 rupees per month
What is the Sri Lanka Minimum Wage? Sri Lanka’s Minimum Wage is the lowest amount a worker can be legally paid for his work. Most countries have a nation-wide minimum wage that all workers must be paid. Sri Lanka’s minimum wage rate is 10,000 rupees per month.

What is the poorest district in Sri Lanka?

Most of the DS divisions with the lowest estimated poverty rates, as expected, are in Colombo, the district with the lowest poverty rate.

What is the main income of Sri Lanka?

Services accounted for 58.2% of Sri Lanka’s economy in 2019 up from 54.6% in 2010, industry 27.4% up from 26.4% a decade earlier and agriculture 7.4%. Though there is a competitive export agricultural sector, technological advances have been slow to enter the protected domestic sector.