The US Department of Labor released the May employment numbers for Puerto Rico and the data confirms the following:
- May’s 14.2% rate is the island’s lowest unemployment rate since February, 2009, when it was at 14.1%. The unemployment rate has fluctuated between 14.1% and 16.6% since Republican and pro-statehood governor Luis Fortuño, who is facing re-election in November, has been in office.
- Right now, Puerto Rico’s civilian labor force is at 1,267,965—this is the lowest labor force on the island since October, 1995 (1,266,581). The following graphs show how Puerto Rico’s civilian labor force continues to decrease over the past 10 years. The graphs also show that there are fewer jobs on the island. So, even though the unemployment rate is now at 14.2%, the labor pool is shrinking and so is the total number of employed people. For example, in December 2011, there were 1,090,300 employed Puerto Ricans and the December 2011 unemployment rate was at 15.2%. In May 2012, there were 1,087,600 employed Puerto Ricans with an unemployment rate of 14.2%. Between December 2011 and May 2012, therefore, there has been a net decrease of about 2,700 employed people in Puerto Rico because the civilian labor force during that time has gone from 1,285,500 people in December 2011 to 1,267,965 people in May 2012. That is a loss of about 17,000 people in the labor force.
- Public sector government jobs are now at about 266,000 jobs, which is the lowest since October, 2011, yet ever since Fortuño’s big purge to have fewer public sector jobs on the island when he took office in 2009, public sector jobs continue to increase.