By The Star Staff
In November, Puerto Rico recorded a stable labor market with a 5.4% unemployment rate and a 45.4% unadjusted labor participation rate, marking the highest level since February 2009.
The positive trend reflects an increase in workers joining the island’s formal labor market.
The data comes from the island Department of Labor and Human Resources (DTRH by its initials in Spanish) and the U.S. Department of Labor’s Bureau of Labor Statistics.
Interim Labor Secretary Naihomy Álamo Rivera emphasized in a statement the importance of public policies in increasing labor participation and reaching new unemployment benchmarks.
In November, seasonally adjusted employment reached 1,149,000, showing an increase of 7,000 compared to October. Compared to November 2023, there was an increase of 3,000 workers. The non-seasonally adjusted data revealed agricultural employment at 17,000 people, while self-employment stood at 212,000 people.
Nonfarm wage employment, seasonally adjusted, was 966,900 in November of this year, with a 3,300 increase compared to October. Various industrial sectors showed employment increases, including professional and commercial services, trade, transportation and utilities, manufacturing, recreation and accommodation, mining, logging and construction, government, information and finance.
Overall, Álamo Rivera said, the figures demonstrate Puerto Rico’s positive and encouraging labor market trend, highlighting the importance of continued support for workers and employers through training, recruitment and counseling programs.
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