Employment enables people to provide for themselves and support their families and households. For poor and low-income households, getting a job is a crucial step toward financial freedom and a better quality of life.
Prime Minister Hon. Philip J. Pierre and the government are shaping policies that enable robust private sector expansion for increased job creation so more Saint Lucians can attain financial freedom from good-paying jobs.
The latest quarterly employment report from the Central Statistical Office confirms the job market got off to a historic start this year.
Saint Lucia recorded the lowest unemployment rate for the 1st Quarter in over 15 years! 1st Quarter unemployment averaged 11.4% between January and March 2024. That’s down from 13.6% in the previous 4th Quarter.
Statistical Report
The Labour Force Survey
1st Quarter 2024
Quote
In Quarter 4, 2023, the overall unemployment rate was 13.6%, which decreased to 11.4% in Quarter
1, 2024. This indicates an improvement in the overall employment situation over this period. The decrease in the unemployment rate from Quarter 4, 2023 to Quarter 1, 2024 suggests positive trends in job availability or increased job opportunities during this time frame.
In Quarter 4, 2023, the youth unemployment rate was notably higher at 26.7%, compared to the overall unemployment rate of 13.6% during the same period. By Quarter 1, 2024, the youth unemployment rate decreased to 18.4%, showing a significant improvement.
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Since July 2021, the government has implemented trailblazing initiatives like the Youth Economy Agency, MSME Loan-Grant Facility and Community Tourism Agency to provide direct support to local entrepreneurs to help grow their businesses.
A range of targeted government policies like VAT amnesties, tax reforms, business incentives and a surge in foreign direct investment under Prime Minister Pierre’s leadership continues to drive down unemployment and inspire economic growth.
1st Quarter (Q1) Unemployment Trends: 2016 – 2024Â
- 2016: 22.08%
- 2017: 20.10%
- 2018: 21.80%
- 2019: 15.50%
- 2020: 17.61%
- 2021: 23.13%
- 2022: 16.15%
- 2023: 16.3%
- 2024: 11.4%
Size of labour force in Q1 2024: 108,808Â Employed labour force in Q1 2024: 96,434 (88.6%)
SOURCE: Office of the Prime Minister
