Labour market estimates from the Labour Force Survey for fall 2024 indicate the unemployment rate – the proportion of unemployed persons to the total labour force – was at 2.4%, according to a press release issued by the Ministry of Finance and Economic Development.
“The number of employed Caymanians was estimated at 21,487, reflecting a decline of 0.3% compared to fall 2023,” the 4 July press release noted.
“The number of unemployed Caymanians decreased by 8.3% to 1,048 persons in fall 2024, resulting in an unemployment rate of 4.6%, lower than the 5.0% in fall 2023.”
The report indicates that Cayman’s total labour force increased by 0.5%, to 60,828 people.
“The employed labour force was estimated at 59,393, an increase of 1.5% compared to fall 2023,” the release stated. “The number of unemployed persons was estimated at 1,435.”
The Labour Force Survey report also presents a population estimate for the Cayman Islands of 88,833 in fall 2024, an increase of 4.8% compared to fall 2023.
The Caymanian population rose by 4% to 40,633, the report indicates, while the permanent resident population reached 8,184, compared to 7,690 in fall 2023. The non-Caymanian population is estimated at 40,016, an increase of 5.4% relative to the estimated population as of fall 2023.
More information on ‘The Cayman Islands’ Labour Force Survey Fall 2024 Report’ is available at www.eso.ky.
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So let me break it down easy for you. My fellow Caymanians, if you want a job, there are out there. Work is aplenty, less complaining and more work if you want to work. Too often there is excuses but this is very low unemployment.
Lastly, act professional and smile.