Puerto Rico Gets Negative September Employment Report

Puerto Rico employment levels declined in September from August, according the U.S. Bureau of Labor Statistics.

Total employment in the household survey fell 0.58% from the August level. The September figure was 0.15% higher than the September 2015 level.

The unemployment rate jumped to 11.9% in September from 11.3% in August. In September it was down 0.3 percentage points from September 2015.

The Bureau of Labor Statistics also releases employment statistics based on a survey of employers. This showed both total nonfarm employment and nonfarm private sector employment slipped 0.1% in September from August. However, compared with the figures for September 2015, the total nonfarm employment fell by 0.8% and the total nonfarm private sector employment by 0.7%.

When both reports are looked at as a whole, employment is down, said Estudios Tecnicos senior economist Juan Castañer. The establishment survey has shown a decline in private sector employment since the second quarter of 2013.

Castañer said Puerto Rico would probably see more employment declines in the coming months. There is a lot of uncertainty on the island connected with coming elections, Oversight Board actions, and the government's financial situation.

One bright area of the economy is the retail sector, Castañer said. While retail employment was down 0.5% in September from August, it was up 2.2% in September from September 2015.

 

For reprint and licensing requests for this article, click here.
Puerto Rico
MORE FROM BOND BUYER