Unemployment Rate for Second-Half 2020 is 5.2%

Labour market estimates from the Labour Force Survey (LFS) Fall 2020 show the unemployment rate (the proportion of unemployed persons to the total labour force) at 5.2%.

The total labour force decreased by 10.5% to reach 43,922 persons. The employed labour force was estimated at 41,644 persons, a reduction of 12.1% compared to Fall 2019. The number of unemployed persons was estimated at 2,279.

Employed Caymanians were estimated at 19,490, reflecting a decline of 2.9% when compared to the Fall 2019 estimate. The number of unemployed Caymanians rose by 558 persons to 1,759 persons in Fall 2020, resulting in an unemployment rate of 8.3%.

The LFS Report also presents the population estimate of the Islands as of December 2020 – this declined by 5.9% from December 2019 to reach 65,786. The Caymanian population rose by 1.2% to 37,815. The PR population reached 5,866 persons as compared to 6,955 persons in Fall 2019. The Non-Caymanian population is estimated at 22,105, a fall of 13.6% relative to the estimated population as of December 2019.

More information on “The Cayman Islands’ Labour Force Survey Fall 2020 Report” are available at www.eso.ky.