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Latino Daily News

Sunday November 24, 2013

Unemployment Rate Rises to 14.7 Percent in Puerto Rico

Unemployment Rate Rises to 14.7 Percent in Puerto Rico

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Puerto Rico’s unemployment rate rose by two-tenths of a percent in October, compared to the previous month, to 14.7 percent, Secretary of Labor and Human Resources Vance Thomas said.

The unemployment rate rose by half a percentage point last month, compared to October 2012, with the number of jobless people on the island rising to 174,000, Thomas said.

Puerto Rico’s labor market had 1.01 million people in October, while the labor force participation rate stood at 41.4 percent.

The island’s unemployment rate dropped from January to June, falling to 13.5 percent, but it began to climb again in July, rising for four consecutive months.

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