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Unemployment Rate in the First Half of 2019 is 3.0%

"Estimates from the Labour Force Survey (LFS) Fall 2018 show the unemployment rate (the proportion of unemployed persons to total labour force) at 3.0%. It is lower when compared to the unemployment rates in Spring 2018 (3.4%) but slightly higher than in Fall 2018 (2.8%)."

Estimates from the Labour Force Survey (LFS) Fall 2018 show the unemployment rate (the proportion of unemployed persons to total labour force) at 3.0%. It is lower when compared to the unemployment rates in Spring 2018 (3.4%) but slightly higher than in Fall 2018 (2.8%).

The fall in the unemployment rate occurred amidst a rise in the total labour force by 7.7% to reach 47,622 persons. The employed labour force was estimated at 46,215 persons, an increase of 8.2% compared to Spring 2019. The unemployed labour force was estimated at 1,407 persons.

Employed Caymanians was estimated at 20,474 reflecting a growth rate of 3.2% over the Spring 2018 estimate. The number of unemployed Caymanians declined by 7.2% to settle at 1,038 persons, resulting in an unemployment rate of 4.8%.

The unemployment rate among Non-Caymanians was unchanged from 1.3% in June 2018, while among Permanent Residents (PR) with rights to work the unemployment rate fell from 2.9% to 2.0%.

The LFS Report also presents the population estimate of the Islands as of June 2019 – this grew by 5.7% from June 2018 to reach 68,076. The Caymanian population rose by 2.4% to 37,029. The PR population reached 6,653 persons as compared to 5,971 persons in Spring 2018. The Non-Caymanian population is estimated at 24,394, a growth of 9.4% relative to the estimated population as at June 2018.

More information on “The Cayman Islands’ Labour Force Survey Spring 2019 Report” are available at www.eso.ky.