Overall unemployment rate moved down to 4.6% with the biggest shift in Business Services, which lost 3,100 roles, based on the most recently available information published in March 2023.
Total employment in the San Juan-Carolina-Caguas, PR market declined by 12,598 jobs in January and the unemployment rate decreased compared to the prior month by 40 bps to 4.6%. The national unemployment rate increased by 60 bps over the same time to 3.9%.
- San Juan-Carolina-Caguas, PR unemployment rate is 74 bps above the national rate which is a negative sign.
- Unemployment in the market is 100 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in January versus prior month by 0.6% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -1.7%. Key sectors include:
- Transportation & Utilities: 135,100; -2,600
- Government: 133,800; -1,500
- Business Services: 115,200; -3,100
- Education & Healthcare: 83,200; -2,900
- Restaurants & Hotels: 63,300; +400
- Manufacturing: 48,600; -600
- Financial Services: 39,400; -200
- Construction, Mining: 25,300; -1,200
- Other Jobs: 15,300; -100
- IT & Development: 14,400; -100
Data is based on the most recent 12 months available, through January 2023 (Data published March 2023 and reports created on March 17, 2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.