Saturday, March 25, 2023
Home   >   Economy   >   February Unemployment Rate Pegged at 11.7%

February Unemployment Rate Pegged at 11.7%

By on March 25, 2016

SAN JUAN – Labor Secretary Vance Thomas announced Friday that Puerto Rico’s unemployment rate for February stood at 11.7%.

NEW YORK - MAY 7: A job applicant (L) speaks with recruiter Renee Chandler (R) during an interview May 7, 2003 at the offices of Metro Support Group in New York City. The nation's jobless rate climbed to six percent in April, rising for the third straight month, adding up to half a million lost jobs. New York's job market has especially been hit hard, with many applicants being unable to find work. (Photo by Chris Hondros/Getty Images)

A job applicant speaks with a recruiter during an interview. (Photo by Chris Hondros/Getty Images)

“Data from the recent employment and unemployment survey show that the adjusted unemployment rate for February 2016 decreased to 11.7%, making this rate the lowest reported since June 2008, when it was at 11.4 %,” the official stated, adding that the rate is 0.2% lower than January’s (11.9%) and 0.5% lower than in February 2015 (12.2%).

The survey, which is conducted through visits to a representative sample of households, also showed that total employment, adjusted, stood at 1,003,000 jobs, for an increase of 10,000 more people employed than in February 2015 (993,000).

The report also showed the labor-force participation rate registered an increase of 0.5% (40.6%) when compared with February 2015 (40.1%).

You must be logged in to post a comment Login