Unemployment was already recorded at a record low back in October of 2022 when it was reported at 5%.
Well, today the results of the most recent Labour Force Survey showed that, in April of 2023, the unemployment rate stood at a quite amazing 2.8 percent!
Now, to put that in context - the unemployment rate in the US is currently 3.9%, and in the UK it's 4%. So, Belize's unemployment rate is lower than even those industrialized countries - if you believe the numbers.
They were presented today by the Statistical Institute of Belize:
Curwen Arthurs, Statistician I, S.I.B.
"In April 2023, there are about one hundred ninety thousand and thirty-seven persons or ninety-seven point two percent who were employed and about five thousand five hundred and fifty-nine persons or two point eight percent who were unemployed."
"Comparisons between two April 2023 and October 2022 show an increase in the total number of persons in employment from about 182,084 reported in October of 2022 to 190,037 in April 2023. The country's labour supply was mainly from rural areas with about 99,241 persons or 50.7% coming from rural areas and this population was mostly made up of males with about 117,592 persons or 60.1% being males.
"Participation in the labour force was 58.5% meaning 58.5% of working age persons were economically active either being employed or unemployed."
"Looking at the employment rates by district now, all district had lower unemployment rates compared to October of 2022, except for the Cayo and Toledo Districts. The highest rate of unemployment was recorded for Toledo District and the lowest recorded for the Orange Walk District."
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