Jamaica’s unemployment rate falls to record low

KINGSTON, Jamaica— Jamaica’s unemployment rate reached a historic low of 3.5% in October 2024, surpassing the previous record of 3.6% set in July 2024. The new figures were released in the Statistical Institute of Jamaica’s (STATIN) October 2024 Labor Force Survey (LFS).

According to STATIN, Jamaica’s total number of unemployed individuals in October 2024 stood at 51,300, with females representing 60.0% of the unemployed population. Among the unemployed, 21,600 were youth aged 15 to 24 years, with 12,000 of them being females, or 55.6% of this group. The overall female unemployment rate was higher at 4.5%, while the unemployment rate for males was 2.6%. The youth unemployment rate was recorded at 11.0%.

In October 2024, a total of 687,500 individuals were outside the labor force in Jamaica, with more females (417,800) than males (269,700) in this group. Of those outside the labor force, 29,400 individuals, or 4.3%, were classified as part of the potential labor force. This category includes individuals who are seeking employment but not available to work, or available for work but not actively looking for a job. Additionally, 294,300 young people aged 15 to 24 years were outside the labor force, making up 42.8% of this group.