Saint Lucia Registers Historically Low Quarterly Unemployment

The Central Statistical Office (CSO) has published the latest labour force data (LFD) for the second quarter (Q2) of 2024, April – June. The national quarterly unemployment rates for the first half of 2024 (January – June) have declined to record-low levels for the first time in over 12 years. From April to June 2024, the unemployment rate averaged 11.25%. This is the lowest Q2 unemployment rate since 2012. The Q2 unemployment rate of 11.25% in 2024 represents a 2% decline compared to the same period in 2023 and is 6.2% lower than the Q2 unemployment rate in 2022. The job numbers for the first six months of 2024 are at an all-time high. By the end of June 2024, the CSO confirmed the employment labour force amounted to 96,342 people. This is equivalent to 88.8% of the total labour force (108,551 people). Historically, Q2 unemployment levels have remained at 20% or higher. This has changed since Prime Minister Hon. Philip J. Pierre assumed Office in July 2021. Strategic government policies ranging from a historic $780 million tax amnesty programme coupled with moneysaving tax reforms to unprecedented investments in capital projects and billions secured in foreign direct investment projects have...