(CMR) The number of unemployed Caymanians rose by 347 persons to 1,143 persons in October 2023, resulting in an unemployment rate among Caymanians of 5%, according to the Labour Force Survey (LFS) Fall 2023 Report.
However, labor market estimates from the Fall 2023 Report show the overall unemployment rate in the Cayman Islands at 3.3%.
The total labor force increased by 5.1% to reach 60,513. The employed labor force was estimated at 58,504, an increase of 3.8% compared to October 2022. The number of unemployed persons was estimated at 2,008.
Prominent occupations among employed Caymanians were professionals (19.9%), technicians and associate professionals (19.6%), managers (16.2%), service and sales workers (12.3%) and clerical support workers (9.6%). Non-Caymanians were mainly occupied as service and sales workers (21.2%); craft and related trades workers (20.0%); professionals (17.4%); elementary occupations (19.3%), and technicians and associate professionals (10.0%).
Permanent Residents WRW principally worked as professionals (33.2%); service and sales workers (14.7%); technicians and associate professionals (16.1%); craft and related trades workers (12.8%), and managers (8.1%).
The top six industries accounted for 57.4 percent of the employed labor force. They were as follows: construction (15.3%); wholesale and retail trade (11.5%); professional, scientific, and technical activities (9.6%); administrative and support service activities (7.3%); activities of households as employers (7.2%); and financial and insurance activities (6.7%)
The LFS Report also presents the population estimate of the Islands as of December 2023—this increased by 3.9% from year-end 2022 to reach 84,738. The Caymanian population rose by 0.9% to 39,068. The PR population reached 7,690, compared to 6,629 in October 2022. The non-Caymanian population is estimated at 37,980, an increase of 4.9% relative to the 2022 population estimate.
For more information, visit “The Cayman Islands’ Labour Force Survey Fall 2023 Report,” available at www.eso.ky.
- Fascinated
- Happy
- Sad
- Angry
- Bored
- Afraid