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Planning Board Report Shows Slight Rise in Employment

By on February 20, 2016

SAN JUAN – The Puerto Rico Economic Summary, which is prepared by the  Planning Board for Gov. Alejandro García Padilla, reflects a slight increase in the island’s employment rate.

According to the report’s Employment and Unemployment section, which presents a comparison between July and September of this fiscal year and last fiscal year, “the number of people employed [from July 2015 to December 2015], seasonally adjusted, was 997,000. This reflects an increase of 1.6 percent when compared with the same period of fiscal year 2015.”

“The seasonally adjusted unemployment rate for that period was 11.6 percent, for a decrease of 2.2 percentage points compared with the previous fiscal year,” the document adds.

However, the overall employment rate remained low compared with 2014, when it reached one million.

According to the results of the Labor Department’s Non-Farm Payroll Employment Survey, total nonfarm payroll employment in Puerto Rico, seasonally adjusted, was 912,800 people in September 2015. This represents an increase of 0.8 percent compared with September last year.

The report also reveals a slight decrease in bankruptcies from January to September 2015, when “the total number of filed bankruptcies totaled 7,701. This represented a decrease of 448 bankruptcies, or 5.5 percent, compared with the total number of bankruptcies filed during the same period in 2014.”

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