Puerto Rico's unemployment rate plunged to a seven-year low in February, even as a survey of employers showed the number of people working for them slipped from January.
Puerto Rico's seasonally adjusted unemployment rate dropped to 11.6% in February from 12.4% in January and 13.7% in December. The rate is now the lowest it has been since June 2008, according to the U.S. Bureau of Labor Statistics.
Total employment according to the bureau's household survey went above one million for the first time since September 2013. The seasonally adjusted total of 1,004,843 was the highest since April 2013.
According to this count, total employment was up 1% from January and 2.5% from the low of the last 10 years found in September 2014.
Simultaneously, the bureau released establishment survey statistics showing a continuing decline in island employment. This showed that employment was down 0.2% in February from January.
The household survey is based on interviews with residents as to their employment status, while the establishment survey is based on surveys of employers. The former encompasses self-employment and agricultural employment while the latter does not.
