Unemployment rate stays historically low for 21st straight month
By The Star Staff
The island Department of Labor and Human Resources (DTRH by its Spanish initials), in conjunction with the U.S. Department of Labor’s Bureau of Labor Statistics, announced Sunday that the unemployment rate in Puerto Rico decreased 6% during September, registering a historically low rate of 6.5% or less for the 21st consecutive month.
The labor force participation rate, meanwhile, increased to 44%, which is 3.6 percentage points higher than in January 2021.
“The labor market numbers are encouraging and a reflection of the economic activity occurring around the island, in all industrial sectors. The data highlights that our citizens do want to work, increasing the labor participation rate and adding more than 100,000 additional salaried jobs to those reported in January 2021 for an increase of approximately 12%,” Labor Secretary Gabriel Maldonado González said. “Other studies, both from DTRH and from other government entities and companies with expertise in human resources issues, continuously validate the positive historical trends that we unveil month after month. Interagency and multisectoral collaboration is vital to continue increasing the labor participation rate and improving the quality of life through work, which is why Governor Pedro R. Pierluisi continues to unveil initiatives that go in this direction.”
According to the DTRH’s Employment and Unemployment publication, which is based on the Worker Group Survey, the unemployment rate, seasonally adjusted, stood at 6% for September, a decrease of 0.2 percentage point compared to the previous month. In contrast with September 2022, the unemployment rate increased by 0.1 percentage point. The current figure remains one of the lowest in island history and represents a decrease of three percentage points compared to January 2021.