Unemployment Now at 4.2% in April 2024

  • The Statistical Institute of Jamaica (STATIN) Labour Force Survey (LFS) revealed that in April 2024, the unemployment rate was 4.2%. There were 62,800 unemployed persons; females accounted for 58.1% of those unemployed. There were 29,400 unemployed youth (aged 15 -24) in April 2024, of which 15,100 or 51.4% were males.
  • STATIN noted that the changes made to the LFS represent a break in the series, and as such, data comparability with previous quarters is not advised. However, for context, the unemployment rate reported for January 2024 was 5.4%.
  • STATIN revised its survey to incorporate the latest international standards and guidelines from the International Labour Organization (ILO), which resulted in a significant change in the definition of employment and unemployment. Additionally, the reference week for the LFS has shifted from the last full week of the previous quarter to the first full week of the current quarter and the minimum age for inclusion in the LFS has been raised to 15, which is consistent with the ILO recommendations (previously 14 years old).
  • Overall, the labour force comprised 1,483,100 persons, including 788,500 males (53.2%) and 694,600 females (46.8%), with an overall labour force participation rate of 63.3%.
  • Of this, 1,420,300 members of the labour force were employed, with 762,200 males (53.7%) and 658,100 females (46.3%). Among the employed population, 24,800 or 1.7% were underemployed (time-related), meaning they worked part-time but wanted additional hours.
  • The occupation group with the highest number of employees was ‘Services and Sales Workers’, employing 324,800 individuals, representing 22.9% of the total employed population. The second largest was ‘Elementary Occupations’, employing 192,900 individuals, followed by ‘Skilled Agricultural, Forestry and Fishery Workers’ which employed 187,800 persons. Regarding industry groups, ‘Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles’ was the largest employer, engaging 265,100 individuals or (18.7%).
  • Of note, there were 93,900 youth who were not employed, not enrolled in educational activities or currently in training (NEET), of which 48,700 were males and 45,100 females.
  • Given the sharp slowdown in Jamaica's economy in the second quarter ( 0.2% from 1.9%) in Q1 2024, and the projected contraction of -0.1% to -1.0% in Q3 due to the impact of Hurricane Beryl, unemployment levels could inch up in subsequent surveys. Of note, recent layoffs by a major BPO company could cause the rate to rise, especially if other operators follow suit.
  • The Labour Force Survey is expected to resume its regular quarterly schedule following the delay in the January 2024 report, likely due to the survey’s revisions.

(Source: STATIN)