The labor code specifies that 20 percent or more workers in a company may form a union. Before a union may enter into a collective bargaining agreement or call a strike, it must have the approval of 51 percent of the company's workers. The unemployment rate calculated by the Central Bank for the Dominican work force is approximately 16 percent. Other experts, however, believe the actual rate is considerably lower. The standard workweek is 44 hours.
Most jobs pay salaries based on the minimum wage.
The Dominican stock market, the Bolsa de Valores de Santo Domingo, was founded in 1991. Since beginning operations, the Bolsa has handled initial offerings of commercial paper. The Fernandez Administration has submitted regulatory legislation for the development of a capital market to the Congress. The Government believes the development of a capital market would to assist in privatization efforts and democratize the distribution of capital. A private sector exchange rate system exists for most commercial banking transactions.