Friday, May 20 2022

Unemployment in Jamaica stands at 7.1% for October 2021, down 3.7 percentage points from October 2020, show the latest data from the Statistical Institute of Jamaica (STATIN).

At the same time, there were 32.4% fewer unemployed people compared to October 2020. The number of unemployed men and women fell by 36.2% and 29.4%, respectively.

STATIN Chief Executive Carol Coy shared the October 2021 Labor Force Survey results at a press conference held virtually on Monday, January 12, 2022.

She also pointed out that the increase in employment was more than double the increase in the labor force.

There were 1.23 million people employed in October 2021, an increase of 6.6%, compared to 1,158,200 people employed in October 2020.

Meanwhile, there were 1.32 million people in the labor force, an increase of 2.4% from 1.29 million in October 2020.

By age group, there are more people in the youth and retirement-age population who were part of the employed labor force in October 2021.

Women saw the biggest increase in employment, up 8.5% to 568,600, while for employed men the increase was 5.1% to 676,200.

Moreover, the number of unemployed youth and the youth unemployment rate were below pre-pandemic levels of 43,300 and 21% respectively.

For October 2021, the youth unemployment rate decreased by 9.3 percentage points to 18.9% from October 2020. There was a larger decline in female youth unemployment, down from 12.3% to 21.6%.

Looking at the employment rate by group, “Professionals, Senior Managers and Technicians” accounted for the largest increase in employment with 25,800 people and women accounted for the majority of the increase (13,500 ).

Overall, ‘Real Estate and Other Business Services’, ‘Arts, Entertainment and Recreation’ and ‘Construction’ accounted for 68.7% of the employment increase.

“Real estate and other business services” posted the largest increase of 23.1%, followed by “Arts, entertainment, leisure and other services”, which increased by 15.3% and “Construction” which increased by 13. .2%.

These sectors, with the exception of “Arts, entertainment, recreation and other services”, have exceeded their pre-COVID employment levels. The same applies to the “Agriculture, Forestry and Fishing” sector.

There were 35,400 more people working in “Real estate and other business services”; 9,300 more people in “Construction” and 4,800 more in “Agriculture, Forestry and Fishing” compared to October 2019.

Coy also presented key third quarter gross domestic product (GDP) indicators.

For the July-September period, Jamaica’s economy continued to show signs of recovery from the negative impacts of COVID-19 in 2020, Coy said.

Total value added increased by 5.8% compared to the comparable quarter of 2020, in line with earlier estimates provided by the Planning Institute of Jamaica (PIOJ).

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