STATIN Labour Force Survey finds unemployment down even further than Oct.; employment also on the rise
KINGSTON, JAMAICA — The nation hit a record low unemployment figure at the beginning of this year, according to data from the Statistical Institute of Jamaica (STATIN).
The organization cited an unemployment rate of 6.2 percent in January 2022 in its latest Labour Force Survey, released just recently.
In comparison, the unemployment rate stood at 8.8 percent in January 2021 and had dipped down to 7.1 percent in October 2021.
STATIN Director General Carol Coy outlined, “In January 2022, the unemployment rate was 6.2 percent; this was 2.6 percentage points lower than the same quarter of the previous year.”
Breaking that down further, she added, “In January 2022, the number of unemployed persons was 83,500, a decrease of 33,000 (28.3 percent) compared to January 2021.
“The number of unemployed males decreased by 19,000 (35.3 percent) to 34,800.
“There were 48,700 unemployed females, 14,000 (22.3 percent) fewer than in January 2021.
“There were 35,100 unemployed youth in January 2022, a decrease of 10,200 (22.5 percent) compared to the same quarter of the previous year.”
Positive sign for Jamaica’s economic recovery
Commenting on STATIN’s latest data, Caribbean Employment Services Inc. CEO Joseph Boll said the steadily declining trend in unemployment is a sign of Jamaica’s economic recovery in the face of the pandemic.
“The Caribbean region on the whole has shown tremendous resilience in bouncing back from a devastating blow to its number-one industry — tourism,” he said.
“Jamaica’s historic low unemployment rate is proof of the growth and opportunity abound even as the world transitions into a ‘post-COVID’ phase.
“There can be no doubt — there are jobs in Jamaica.”
Prime Minister Andrew Holness shared those sentiments, expressing at a recent press conference, “We are now at a point where all the signs are showing that we are about to take off in our economy.
“Our economy is recovering and has recovered rapidly — much faster than we had expected.”
Alongside the drop in unemployment, STATIN also recorded an increase in employment as of January 2022.
“The number of persons employed in January 2022 was 1,257,100,” Director General Coy noted.
“Compared to January 2021, there were 57,800 (4.8 percent) more employed persons.”
She also highlighted a higher rate of employment among women (5.5 percent) than men (4.3 percent), with the number of employed women accounting for 51.2 percent of the increase in the employed labour force.