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Unemployment Rate Up Again In July
By JOSE L. CARMONA
August 23, 2001
The islands unemployment rate reached 10.9% in July, a 0.9% increase over the 10% registered in July 2000, according to statistics released last week by the Puerto Rico Department of Labor and Human Resources.
The hike in unemployment rate comes in spite of a 2.1% drop in the participation rate, from 46.4% in July 2000 to 44.3% last month.
At 10.9%, the rate in July is 0.5% lower than June 2000s 11.4%. The unemployment rate usually registers a drop during summer months because of summer employment programs.
The number of salaried, non-agricultural jobs amounted to 998,500, a drop of 35,000 jobs when compared to July 2000s 1,033,500. By far, the greatest job loss was registered in the government sector (-30,800) followed by manufacturing (-10,300), transportation & public utilities (-900), finance, insurance, and real estate (-900), and commerce (-200). On the other hand, gains were registered in construction (4,500) and services (3,700).
The number of unemployed persons for July 2001 was 138,00011,000 less than June 2001 (149,000) and 7,000 more than July 2000 (131,000).
Of those out of work, 62% were homemakers, 3% in school, 9.3% handicapped, 12.8% retired, and the remaining 12.8% corresponded to individuals classified as unmotivated, voluntarily lazy, and others. These figures represent increases in sectors totalshomemakers (23,000), retired (20,000), in school (9,000), and handicapped (5,000).
The number of employed persons for July 2001 was 1,135,000 or 21,000 less than June 2001 with 1,156,000 and 49,000 less than July 2000 with 1,184,000.
Total estimated workforce for July 2001 was 1,273,000, a reduction of 32,000 and 42,000 when compared to June 2001 and July 2000, respectively.
Of the people employed in July 2001, 25.7% were professionals, executives, or managers; 28.2% were technicians, salespeople, or administrative support personnel; 16.3% were service sector employees; and 13% were equipment operators. The remaining 16.8% were artisans, foremen, agricultural, or general workers.
Almost half the employed (49.6%) have some college education, while 31% have a high school diploma, 4.5% with one or two years of high school, 8.2% with middle school education, and 5% with elementary level education.
Total number of self-employed individuals for July 2001 was estimated at 149,000a drop of 7,000 jobs when compared to June 2001 (156,000) and 15,000 less in relation to July 2000 (164,000).
This Caribbean Business article appears courtesy of Casiano Communications.