Unemployment Below 12 Per Cent For Third Straight Quarter, Creating Record

Saint Lucia’s record-low unemployment streak extended in the third quarter of 2024 at 11.8 per cent nationally, creating history in the process, according to the Office of the Prime Minister (OPM). “This means for the first time in Saint Lucia’s history, the national unemployment rate has remained below 12 per cent in three consecutive quarters in a calendar year,” a release issued by the OPM on Wednesday stated. The unemployment rate in the first quarter (January to March) stood at 11.37 per cent, followed by 11.25 per cent in the second quarter (April – June), according to statistics from the Central Statistical Office. The statement also highlighted a more than 6 per cent decline in the third quarter unemployment rate since 2022 when it was 18.2 per cent. It fell to 12.8 per cent in 2023 and 11.8 per cent for the same period in 2024. “The employment rate is increasing, following trends in labour force participation and unemployment,” it added. Among the youngest group, ages 15-19, the employment rate stood at 63 per cent. The figure stands at 81.4 per cent for ages 20-24, and reaches 86.9 per cent for individuals aged 25-29. The national employment rate is 88.2...