Unemployment In Jamaica Hits 10-Year Low!

Unemployment has hit a ten-year low in Jamaica.

That’s according to the Statistical Institute of Jamaica, STATIN. STATIN has also indicated that youth unemployment has hit a 10-year low.

The most recent data from STATIN shows, the unemployment rate falling to 10.4 percent as of October 2017- the lowest figure since October 2008.

STATIN says the rate of unemployment “has been trending downwards over the last decade”.

The unemployment figures are based on a Labour Force, of 1,347,600 representing a decrease of 6,500 compared to 1,354,100 in October 2016.

Information included in the 2017 Labour Force Survey reveals that a total of 1,206,800 persons were employed in October 2017, representing 27,300 persons or 2.3 percent more than the 1,179,500 recorded in October 2016.

For males, employment increased by 5,300 to 668,900 and for females an increase of 22,000 or 4.3 percent from 515,900 to 537,900 over the same period.

Youth unemployment has declined but remains high at 25.4 percent. This is still the lowest figure for youth unemployment since January 2008.

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