Statistical Institute of Belize reporting record low unemployment rate in Belize

By BBN Staff: Unemployment has fallen from 9.4 percent in 2018 to 7.6 percent in 2019 which the Statistical Institute of Belize (SIB) says is the “the lowest rate ever recorded.”

The SIB issued the first of two Labor Force Surveys (LFS) this week, saying that the increase was caused by a net increase of 8,478 in the number of persons with jobs coupled with a number of persons exiting the labor force.

“Overall, the Belize District experienced the highest gains in employment, while the Cayo District saw persons – most of whom were females – leaving the labor force, resulting in a fall in  the national unemployment rate,” the SIB said.

The SIB said that an approximate 177,915 people are in the labor force, which is comprised of persons who are employed and unemployed but seeking employment, as of April 2019. The figure represents an increase of 5,829 persons when compared to the same time period last year. Of that number, 73 percent or 4,231 were males. Despite the net increase nationally, the Cayo district recorded a net decrease of 1,300 persons in the labor force.

The number of employed persons as of April 2019 was estimated at 164,428, an increase of 8,478 from April 2018, while the unemployed population was estimated at 13,486 persons, a decrease of about 2,650 persons from April 2018.  In April 2019, an estimated 25,248 persons
were underemployed, holding jobs but working less than 35 hours per week.

The SIB, on average does two LFS for the year, the first in April and the other in September.

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