By The Star Staff
The Department of Labor and Human Resources (DTRH), in conjunction with the Bureau of Labor Statistics of the U.S. Department of Labor, reported Wednesday that the unemployment rate in Puerto Rico remained at 5.7 % during the month of December 2023, matching the record set the previous month, adding 24 consecutive months with a rate of 6.5 percent or less and averaging 5.9 percent during the calendar year 2023, the lowest average in history.
“The calendar year 2023 was a historic one for the Puerto Rican labor market, as a result of an increase in economic activity and concrete strategies to insert more people into the world of work. We are talking about the year with the lowest unemployment rate in our history, at the monthly level and in terms of annual average, as well as the year where the highest employment levels were averaged in recreation and accommodation, professional and business services, and education and health services,” said the Secretary of the DTRH Gabriel Maldonado Gonzalez in written statements.
“These positive trends have been sustained over a long period of time and can be verified through the different reports and publications that our agency issues together with the federal government. In this new year we will continue to work hand in hand with other components of the government, the private sector and for-profit organizations, to continue maximizing initiatives such as the new Employment and Recruitment Portal to Facilitate Labor Integration (PERFIL), the Puerto Rico Está Faja’o campaign and Infinite Talent, among others,” Maldonado Gonzalez added..
According to the publication of Employment and Unemployment, which is based on the Worker Group Survey, the unemployment rate, seasonally adjusted, stood at 5.7% for the month of December 2023. It reflected no change compared to November 2023, while it represented a decrease of 0.3 percentage point when compared to December 2022. During the calendar year 2023, the average unemployment rate was 5.9%, which represents the lowest annual average in history.