Unemployment Rate for the First-Half of 2022 is 3.0%
Labour market estimates from the Labour Force Survey (LFS) Spring 2022 show the unemployment rate (the proportion of unemployed persons to the total labour force) at 3.0%.
The total labour force increased by 11.7% to reach 54,398 persons. The employed labour force was estimated at 52,764 persons, an increase of 14.9% compared to Census 2021. The number of unemployed persons was estimated at 1,634.
Employed Caymanians were estimated at 21,299, reflecting an increase of 5.7% when compared to the 2021 Census estimate. The number of unemployed Caymanians fell by 725 persons to 1,140 persons in Spring 2022, resulting in an unemployment rate of 5.1%.
The LFS Report also presents the population estimate of the Islands as of June 2022 – this grew by 10.5% from the 2021 Census period to reach 78,554. The Caymanian population rose by 1.0% to 38,425. The Permanent Resident population reached 6,756 persons as compared to 6,378 persons revealed by Census 2021. The Non-Caymanian population is estimated at 33,373, an increase of 25.1% relative to the estimated population as of the 2021 Census period.
More information on “The Cayman Islands’ Labour Force Survey Spring 2022 Report” is available at www.eso.ky.