Jamaica’s Unemployment Rate Now Below 10%
Jamaica’s unemployment rate is below 10-percent for the first time in over a decade.
Figures from the Statistical Institute of Jamaica (STATIN) show that the unemployment rate as at the end of January, 2018 was 9.6 percent.
This represents a 3 percentage point decrease from the reported 12.7 percent for the corresponding period last year.
According to STATIN, attributing factors to the fall in the unemployment rate include a decline in the number of persons in the labour force and a simultaneous increase in employment.
The institute says that as at January, 2018 slightly over 1.2 million individuals were employed – representing an increase of 22,600 or nearly 2-percent.
The institute also notes that for every one male finding employment, almost 11-females are also being employed.
Prime Minister Andrew Holness recently noted the decline in youth unemployment, which fell to 23.8 per cent as at the end of January 2018, down from 31.7 per cent for the corresponding period in 2017.
He also highlighted the unemployment rate among male youth which fell by 4.7 percentage points to 20.4 per cent, while citing the 4.9 per cent decline in the female rate from 17 per cent in January 2017 to 12.1 per cent as at January 2018.
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