Employment Grew in 2012
"Total employment in the Cayman Islands in 2012 was estimated at 36,401, higher by 3.2 percent compared to 2011."
Total employment in the Cayman Islands in 2012 was estimated at 36,401, higher by 3.2 percent compared to 2011. Caymanian and non-Caymanian employment rose by 3.3 and 3.2 percent respectively compared to a year ago.
⫿I am pleased that the labour market has improved last year, and I expect it to make further progress this year towards reducing the overall unemployment rate,??? notes the Hon. Premier and Finance Minister, Mrs Juliana O’Conner-Connolly.
The final results of the Labour Force Survey, released today by the Economics and Statistics Office, also present an analysis of Cayman’s labour force, unemployment rate, and persons who are not economically active.
With the growth in employment, the unemployment rate improved slightly from 6.3 percent in 2011 to 6.2 percent in 2012. Caymanian and non-Caymanian unemployment rates stood at 10.5 percent and 2.4 percent, respectively.
The top five occupations in 2012 were service and sales workers (21.1% of total employment), professionals (16.4%), elementary occupation (13.7%), technicians and associate professionals (13.4%) and craft and related trade workers (11.5%).
The top six industries were: wholesale and retail trade (12.8%), construction (10.5%), activities of households as employers, (9.2%), financial services (8.9%), public administration (7.8%), and professional, scientific and technical activities (7.1%).