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 4.5% in April 2023

August 22, 2023

The Statistical Institute of Jamaica (STATIN) reported that the unemployment rate for April 2023 was 4.5%, compared to 6.0% in April 2022. The male unemployment rate declined from 4.7% in April 2022 to 3.4%, while the female unemployment rate fell from 7.6% to 5.7%. The number of unemployed persons recorded in April 2023 was 61,300, a decline of 19,700 (24.3%) compared to April 2022. The number of unemployed males was 24,900, a decrease of 8,900 (26.3%). The number of unemployed females was 36,400 compared to 47,200 a year earlier.

Data from the survey indicated there were 1,312,600 employed persons, an increase of 43,300 persons relative to April 2022. Females accounted for just over two-thirds of the increase in employment (29,700 or 68.6%). The number of employed males totalled 705,200, while the number of employed females were 607,400.

The youth (14-24 years) unemployment rate declined by 3.3 percentage points from 15.5% in April 2022 to 12.2% in April 2023. The unemployment rate for males 14 to 24 years was 12.0 % in April 2023 and 12.3% for females within the same age group.

Notably, in April 2023 the size of the Labour Force rose to 1,373,800, representing an increase of 23,500 (1.7%) additional persons compared to 1,350,300 recorded in April 2022. The male labour force increased by 4,700 (0.6%) to 730,000 and the female labour force increased by 18,800 (3.0%) to 643,800.

The largest increase in the Employed Labour Force by occupation group was in ‘Service Workers and Shop and Market Sales Workers’. There were 311,600 persons employed in this occupation group in April 2023, 27,700 more persons (9.8%) compared to April 2022. Male employment within this occupation group increased by 11,000 (10.7%) and females by 16,700 (9.2%). The number of employed persons in ‘Elementary Occupations’ was 173,100, an increase of 12,800 persons (8.0%) compared to April 2022. Females accounted for 60.3 and 57.0 per cent of the increase in ‘Service Workers and Shop and Market Sales Workers’ and ‘Elementary Occupations’, respectively.

Despite the increase in employment across most industry groups, there was a downturn in the numbers employed mainly in ‘Agriculture, Forestry and Fishing’. In April 2023, 182,500 persons were working in the industry, a decline of 7,800 persons (4.1%), 4,600 males and 3,200 females, compared to the April quarter in 2022.

 

 

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
shutterstock_148562033
June 30, 2026   Scotia Group Jamaica Limited (SGJ) has advised that Scotiabank’s Employee Share Ownership Plan sold 30,611,861 SGJ shares o…
shutterstock_148562033
June 30, 2026   QWI Investments Limited (QWI) has advised that during the period September 2, 2025, to June 29, 2026, a connected party pur…
shutterstock_148562033
June 30, 2026   IronRock Insurance Company Limited (ROC) has advised that connected parties purchased a total of 100,000 ROC shares during …
shutterstock_148562033
June 30, 2026   JMMB Group Limited (JMMBGL) has advised that a connected party purchased 200,000 JMMBGL shares on June 26, 2026.   …
shutterstock_453968572
June 30, 2026   United States: US Stocks Mixed as Indexes Head for Best Quarter Since 2020   US stocks were muted before the bell …
shutterstock_453968572
June 29, 2026   West Indies Petroleum Terminal Limited (WIPT) has advised of the resignation of the Hon. Danville Walker, Senior Vice Presi…
shutterstock_453968572
June 29, 2026   One Great Studio Company Limited (1GS) has advised that Peter Lloyd has been appointed to its Board of Directors, effective…
shutterstock_453968572
June 29, 2026   A.S. Bryden & Sons Holdings Limited (ASBH) has advised of the appointment of Ms. Shelley Sylvester to the position of G…