The Unemployment Rate for Second-Half of 2022 is 2.1%
Labour market estimates from the Labour Force Survey (LFS) Fall 2022 Report show the unemployment rate (the proportion of unemployed persons to the total labour force) at 2.1%.
The total labour force increased by 18.3% to reach 57,582 persons. The employed labour force was estimated at 56,355 persons, an increase of 22.7% compared to the Census 2021. The number of unemployed persons was estimated at 1,227.
Employed Caymanians were estimated at 21,095, reflecting an increase of 4.7% when compared to Census 2021. The number of unemployed Caymanians fell by 1,068 persons to 796 persons in Fall 2022, resulting in an unemployment rate of 3.6%.
The LFS Report also presents the population estimate of the Islands as of December 2022 – this increased by 14.7% from Census 2021 to reach 81,546. The Caymanian population rose by 1.8% to 38,724. The PR population reached 6,629 persons as compared to 6,378 persons in October 2021. The Non-Caymanian population is estimated at 36,193, an increase of 35.7% relative to the Census 2021 population count.
More information on “The Cayman Islands’ Labour Force Survey Fall 2022 Report” are available at www.eso.ky.