April 1, 2026

Overview

The January 2026 Labour Force Survey (LFS), with a reference week of January 4–11, 2026, presents a mixed picture of Jamaica’s labour market. While the unemployment rate edged down slightly, both employment and labour force participation declined year-over-year, and more people moved outside the labour force altogether.

Employment

A total of 1,389,400 persons were employed in January 2026, a decline of 30,100 (approximately 2.1%) compared to January 2025. Employment fell across both genders — male employment dropped 2.0% to 747,700, while female employment fell 2.2% to 641,800. Youth employment was particularly affected, with 149,500 young people employed, a notable decline of 11.1% from the prior year.

Unemployment

Despite the overall drop in employment, the unemployment rate fell slightly to 3.6%, down from 3.7% in January 2025. The total number of unemployed persons stood at 51,500, a reduction of 3,000 from the previous year. Broken down by gender, the male unemployment rate declined to 2.8%, while the female rate fell to 4.5%. Youth unemployment, while improved, remained elevated at 10.7, with 17,900 young persons unemployed — down by 5,600 from the previous year. The decline in the unemployment rate, despite reduced employment, is largely explained by more people leaving the labour force rather than actively seeking work.

Labour Force Participation

The total labour force stood at 1,441,000 in January 2026. The overall labour force participation rate dropped to 66.8%, down from 68.4% in January 2025 — a decline of 1.6 percentage points. Both the male labour force (down 16,900 to 769,200) and the female labour force (down 16,100 to 671,800) contracted over the period.

Persons Outside the Labour Force

Reflecting the lower participation rate, 714,800 persons were outside the labour force in January 2026 — an increase of 32,900 compared to January 2025. Males outside the labour force increased by 16,900, and females by 16,100.

Methodology Note

STATIN deployed an abridged version of the standard LFS questionnaire to the western parishes of St. Elizabeth, Westmoreland, St. James, Hanover, and Trelawny, consistent with the approach used in the October 2025 quarter. As a result, some of the usual indicators could not be produced for this period.

Source: Statistical Institute of Jamaica (STATIN) | www.statinja.gov.jm

Disclaimer:

Analyst Certification -The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation(s) or view (s) expressed by that research analyst in this research report.

Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.