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“Unemployment down to 5 percent in 2022,” says Statistical Institute of Belize

Posted: Sunday, January 15, 2023. 8:19 pm CST.

By Benjamin Flowers: Belize’s unemployment rate stood at 5 percent as of mid-October 2022, according to the most recent data issued by the Statistical Institute of Belize.

The percentage represents some 9,644 Belizeans who are unemployed but actively seeking employment. The SIB explained that the figure was arrived at after taking the population estimate for 2022, which stood at 444,802, and separating it into those of working age (14 years and above) 326, 503, and the under 14 category which stood at 117,848.

From the working population, the SIB calculated those within the labor force, either working or seeking employment, which was 191,728 or 58.7 percent of the working-age population, and those outside the labor force (not interested in, or not seeking employment) 134,775 or 41.3 percent of the working population.

Apart from the 9,644 Belizeans who were unemployed, 12,233 (6.7 percent of the working population) were under-employed [works less than 35 hours per week]. There were 182,084 people who were working either as an employee or were self-employed.

An unemployment rate of 5 percent marks notable strides on Belize’s part in economic activity post-pandemic, as unemployment in 2021 stood at 9.2 percent in 2021, and 13.7 percent in 2020.

 

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