Jamaica’s unemployment rate was 5.4% in January 2024

July 18, 2024

The Statistical Institute of Jamaica (STATIN) released key indicators from the January 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, “It is important to note that these changes represent a break in the series, and as such, data comparability with previous quarters is not advised. Importantly, however, these changes will greatly enhance the value of Jamaica’s Labour Force Survey as a tool for policymakers, researchers, and the public.”

Key changes include:

  • Updated Definitions and Classifications: “Work” is now narrowly defined as activities performed for pay or profit, excluding own-use production, volunteer, and unpaid trainee work.
  • Labour Underutilisation: Now measured using multiple indicators including unemployment (LU1), underemployment (LU2), potential labour force (LU3), and a composite (LU4).
  • Reference Week Adjustment: The reference week for data collection has shifted to the first full week of the current quarter.
  • Minimum Age Limit Update: Raised to 15 years, aligning with ILO recommendations.
  • Strict Definition of Unemployment: Requires absence of employment, active job-seeking, and availability for work.

Findings from January 2024 LFS:

  • Labour Force Participation: 1,486,400 people with a 68.9% participation rate; The labour force comprised 788,500 males (53.0%) and 697,900 females (47.0%)
  • Employment: 1,405,700 employed persons consisting of 757,200 employed males (53.9%) and 648,500 females (46.1%). “Services and Sales Workers” is the largest occupation group.
  • Unemployment: 80,700 unemployed persons with an unemployment rate (LU1) of 5.4%, higher for females (7.1%) than males (4.0%). Youth unemployment is 16.0%. Unemployment was lowest in Greater Kingston Metropolitan Area (4.3%), higher in Other Urban Centres (6.7%) and Rural Areas (5.7%).
  • Other Labour Underutilisation Rates: Combined rates for underemployment and unemployment (LU2) at 7.3%, unemployment and potential labour force (LU3) at 7.5%, and aggregate labour underutilisation (LU4) at 9.4%.

 

 

 

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2024-07-18T15:35:44-05:00