- Grenada records decline in rate of unemployment
The results of a labour force survey conducted in Grenada for the quarter ending June 30, 2023, revealed that the unemployment rate was 12%, a decrease from 16.6% recorded for the quarter ended June 20, 2021, and 28.4% reported in June of 2020.
According to a statement issued by the Statistics Department of the Ministry of Economic Development, Planning, Tourism, ICT, Creative Economy, Agriculture and Lands, Fisheries and Cooperatives, the decline in the rate of unemployment as of the end of June 2023 was influenced by a decrease in the rate of unemployment among youths and women.
The young unemployment rate declined from 38.6 percent in the second quarter of 2021 to 36.2 percent in the third quarter of 2023.
Young males and girls experienced lower unemployment rates, with young females experiencing a greater decrease. As a result, the female unemployment rate fell from 19.5% to 14.6% throughout that time period.
According to the Statistics Department, the survey data provides comprehensive information on the labour market.
It includes information on the unemployment rate, the age and gender of the jobless, the level of education of the unemployed, the structure of unemployment by occupation, and the fraction of the labour force that is actively seeking work.
The unemployment rate is calculated by dividing the number of jobless persons by the labour force. The International Labour Organisation (ILO) defines the jobless as anyone aged 15 and up who is available to work within two weeks and has actively sought employment at some point in the previous four weeks or has already obtained a job that starts within the next three months.
The labour force survey also offered gender-disaggregated data on unemployment by worker category and the educational status of the jobless.
