Native unemployment handed 8% in late 2020

Local unemployment passed 8% in late 2020

(CNS): The Economics and Statistics Office’s latest Labour Force Survey outlines the significant impact the COVID-19 health crisis had on unemployment last year, documenting a drop in the workforce from almost 50,000 people in the autumn of 2019 to just under 44,000 last October. Although they are six months old, the statistics provide the first official picture of the state of employment in the Cayman Islands since the borders were closed due to the pandemic, and reflect an unemployment rate among Caymanians of 8.3%. The figures show that at least 1,759 locals were without work at the time of the survey.

The Fall Survey, which was published just before the Easter holiday, also shows that Cayman’s population, which had reached almost 70,000 by the end of 2019, dropped back to just under 65,000 by the last quarter of 2020. The report shows that the Caymanian population rose by 1.2% to 37,815. Estimates revealed that the number of people employed declined by 12.1%…