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In November, Puerto Rico reported a consistent labor market with an unemployment rate of 5.4% and a 45.4% unadjusted labor participation rate, the highest since February 2009.
This favorable trend indicates a rise in individuals entering the formal labor market of the island.
The statistics are sourced from the island’s Department of Labor and Human Resources (known as DTRH in Spanish) and the U.S. Department of Labor’s Bureau of Labor Statistics.
Interim Labor Secretary Naihomy Álamo Rivera underscored in a statement the critical role of public policies in enhancing labor participation and achieving new unemployment milestones.
In November, seasonally adjusted employment hit 1,149,000, reflecting an increase of 7,000 from October. Compared to November 2023, there was a rise of 3,000 workers. The non-seasonally adjusted figures show agricultural employment at 17,000 individuals, with self-employment at 212,000.
Nonfarm wage employment, seasonally adjusted, reached 966,900 in November of this year, with a gain of 3,300 compared to October. Numerous sectors experienced employment growth, including professional and commercial services, trade, transportation and utilities, manufacturing, recreation and accommodation, mining, logging, construction, government, information, and finance.
Overall, Álamo Rivera stated that the data illustrates a positive and promising labor market trend in Puerto Rico, emphasizing the need for ongoing support for both workers and employers through training, recruitment, and counseling initiatives.
