February 20, 2024
The Statistical Institute of Jamaica (STATIN) reported that the unemployment rate for October 2023 was 4.2%, compared to 7.1% in October 2021. The male unemployment rate was 3.1% while the female unemployment rate was 5.4%, down from 5.4% and 9.0% respectively. The number of unemployed persons recorded in October 2023 was 57,300, a decline of 36,600 (39.0%) compared to October 2021. The number of unemployed males was 23,100, a decline of 15,800 (40.6%) while the number of unemployed females was 34,200 compared to 55,000.
Data from the survey indicated there were 1,320,400 employed persons, an increase of 85,600 persons relative to October 2021. The number of employed males totalled 715,900, while the number of employed females were 604,500. The ‘Service Workers and Shop and Market Sales Workers’ occupation group exhibited the highest increase in employment, followed by ‘Elementary Occupations.’ However, the ‘Skilled Agricultural and Fishery Workers’ occupation group experienced a decrease in employment.
The youth (14-24 years) unemployment rate was 12.6%, a difference of 6.3 percentage points when compared to 18.9% in October 2021. The number of unemployed youths decreased by 11,100 (29.8%) to 26,200.
Notably, in October 2023 the size of the Labour Force rose to 1,377,600, representing an increase of 48,900 (3.7%) additional persons compared to October 2021. The male labour force increased by 24,100 (3.4%) to 738,900 and the female labour force by 24,800 (4.0%) to 638,700.
The largest employment growth occurred in the ‘Service Workers and Shop and Market Sales Workers’ occupation group. The ‘Real Estate and Other Business Services’ and ‘Construction’ industries experienced the most significant increases in employment.
In terms of industries, ‘Real Estate and Other Business Services’ and ‘Construction’ saw the most significant employment gains. ‘Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles’ also showed an increase, while ‘Agriculture, Forestry and Fishing’ experienced a decrease in employment.
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