Puerto Rico May Unemployment Pegged at 11.7%
SAN JUAN – The Puerto Rico Labor Department announced Friday that the adjusted unemployment rate for May stood at 11.7%.
The number reflects a 0.4% decrease when compared with May 2015, when unemployment reached 12.1%.
Puerto Rico employment and unemployment estimates for May also showed that the labor-force participation rate stood at 40.6%, an increase of 1.1% when compared with the same period last year, when participation was estimated at 39.5%.
“It is important to note that the participation rate over the past eight months remained stable, at 40%, which implies that the unemployed have not been discouraged in looking for jobs.
Likewise, this survey reflects an increase of more than 19,000 more jobs than in May 2015, for a total 1,007,000 jobs, a number not seen since March 2013,” Labor Secretary Vance Thomas said.
Results from the nonfarm payroll employment survey show that various industries saw increases in job creation.
You must be logged in to post a comment Login