IMPORTANT NOTICE | Mayberry Investments Limited is a cashless institution.

Mayberry Investments Limited is a cashless institution.
Please note that cash deposits into any Mayberry account held at commercial banks, whether made in-branch or via Automated Banking Machines (ABMs), are not accepted and will not be processed. For information on accepted payment methods, please contact your Investment Advisor.

Jamaica’s unemployment rate was 4.2% in April 2024

October 8, 2024

The Statistical Institute of Jamaica (STATIN) released key indicators from the April 2024 Labour Force Survey (LFS), which incorporates revisions based on international recommendations from the International Labour Organization (ILO). These updates enhance data accuracy, relevance, and international comparability.

STATIN highlighted, “The new labour force series represents a significant break in the series and is not comparable with previous survey data. This lack of comparability results from revisions implemented.”

Key changes include:

  • Updated Definitions and Classifications: “Work” is now narrowly defined as activities done for pay or profit, excluding own-use production work, volunteer work, and unpaid trainee work.
  • Labour Underutilisation: Now measured using multiple indicators: the unemployment rate (LU1), underemployment (LU2), the potential labour force (LU3), and a composite measure combining all three (LU4).
  • Reference Week Adjustment: The reference week for data collection has shifted to the first full week of the current quarter, rather than the last full week of the previous quarter.
  • Minimum Age Limit Update: Raised to individuals aged 15 and older instead of 14 and older.
  • Strict Definition of Unemployment: Requires absence of employment, active job-seeking, and availability for work.

Findings from April 2024 LFS:

  • Labour Force Participation: 1,483,100 people with a 68.8% participation rate; The labour force comprised 788,500 males (53.2%) and 694,600 females (46.8%).
  • Employment: 1,420,300 employed persons consisting of 762,200 employed males (53.7%) and 658,100 females (46.3%). “Services and Sales Workers” is the largest occupation group, with 324,800 individuals.
  • Unemployment: 62,800 unemployed persons with an unemployment rate (LU1) of 4.2%, higher for females (5.3%) than males (3.3%). Youth unemployment is 14.8%. Unemployment was lowest in Greater Kingston Metropolitan Area (3.1%), higher in Other Urban Centres (4.8%) and Rural Areas (4.9%).
  • Other Labour Underutilisation Rates: Combined rates for underemployment and unemployment (LU2) at 5.9%, unemployment and potential labour force (LU3) at 5.7%, and aggregate labour underutilisation (LU4) at 7.4%.

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.

More Stories from the Market
MIL
Kingston, Jamaica – May 15, 2026: Mayberry Investments Limited is delighted to announce the appointment of Melicia Jones as Vice President, Relatio…
MIL
Kingston, Jamaica – May 15, 2026: Mayberry Investments Limited (MIL) is pleased to announce the appointment of Kirk Douglas as Vice President, Stra…
shutterstock_148562033
May 15, 2026   Supreme Ventures Limited (SVL) has advised that on May 13, 2026 a related entity purchased 73,231 SVL shares. SVL has als…
shutterstock_148562033
May 15, 2026   One on One Educational Services Limited (ONE) has advised of the following transactions: a Director sold a total of 40,…
shutterstock_148562033
May 15, 2026   Jetcon Corporation Limited (JETCON) has advised that during the period April 14, 2026 to May 13, 2026, connected parties pur…
shutterstock_148562033
May 15, 2026   IronRock Insurance Company Limited (ROC) has advised that connected parties purchased a total of 711,500 ROC shares during t…
shutterstock_609342323
May 15, 2026   VM Investments Limited (VMIL) has revised its dividend declaration as follows: VMIL has declared an interim dividend of $…
shutterstock_609342323
May 15, 2026   Honey Bun (1982) Limited (HONBUN) has declared an interim dividend of $0.006 per stock unit payable on June 11, 2026, to sto…