Cayman’s total unemployment falls to 2.8%
Estimates from the Cayman Islands Labour Force Survey Spring 2024 indicate the unemployment rate — the proportion of unemployed persons to the total labour force — at 2.8 per cent.
The report from the Economics and Statistics Office said the total labour force grew by 6.9 per cent to reach 62,743.
The employed labour force was estimated at 61,003, an increase of 6.5 per cent compared with spring 2023. The number of unemployed persons was estimated at 1,740.
The survey reported that the number of employed Caymanians was estimated at 22,181, reflecting an increase of 2.6 per cent compared to spring 2023.
The number of unemployed Caymanians increased by 301 to 1,142 persons in spring 2024, resulting in an unemployment rate of 4.9 per cent, higher than the 3.7 per cent in spring 2023.
The LFS report also presents the population estimate of the Islands as of June 2024.
The population grew by 5 per cent above the spring 2023 figure to reach 87,866 in spring 2024. In December, the population was said to be 84,738.
The Caymanian population rose by 2.5 per cent to 39,897.
The permanent resident population reached 7,822 persons compared with 6,433 persons for spring 2023.
The non-Caymanian population is estimated at 40,147, an increase of 4.8 per cent relative to the estimated population as of spring 2023.
• For more on the The Cayman Islands’ Labour Force Survey Spring 2024 Report, see Related Media
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