Unemployment Rate in the Second Half of 2019 is 3.5%

Labour market estimates from the Labour Force Survey (LFS) Fall 2019 show the unemployment rate (the proportion of unemployed persons to the total labour force) at 3.5%.

The total labour force increased by 6.3% to reach 49,089 persons. The employed labour force was estimated at 47,394 persons, an increase of 5.6% compared to Fall 2018. The number of unemployed persons was estimated at 1,695.

Employed Caymanians were estimated at 20,068, reflecting a decline of 3.3% when compared to the Fall 2018 estimate. The number of unemployed Caymanians rose by 205 persons to 1,201 persons in Fall 2019, resulting in an unemployment rate of 5.6%.

The LFS Report also presents the population estimate of the Islands as of December 2019 – this grew by 6.2% from December 2018 to reach 69,914. The Caymanian population rose by 1.8% to 37,363. The PR population reached 6,955 persons as compared to 5,940 persons in Fall 2018. The Non-Caymanian population is estimated at 25,596, a growth of 10.5% relative to the estimated population as of December 2018.

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