Unemployment dips despite COVID: CBSL

Monday, 4 October 2021 03:46 - - {{hitsCtrl.values.hits}}

Despite the widespread impact of the COVID-19 pandemic, the unemployment rate, surprisingly, has decreased to 5.1% in the second quarter of 2021 from 5.7% in the first quarter of 2021, according to the Central Bank’s latest provisional data released last week.

It said the labour force participation rate (LFPR), however, decreased to 49.8% in the second quarter of 2021 from 50.9% in the first quarter of 2021.

At the end of last year, the unemployment rate was estimated at 5.5%. In the 1Q of 2020, the unemployment rate was stated as 5.7%. As of 2020, the data services sector employed the most with a share of 46% whilst industry and agriculture share was 27% each.