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Report: Puerto Rico’s private sector adds jobs in 2Q22

Puerto Rico’s Business Employment Dynamics report issued by the Puerto Rico Labor Department reflected a net increase in private sector-jobs and establishments during the second quarter in 2022, from April to June.

During the quarter, the report showed that the private sector generated 47,053 gross jobs, representing a net increase of 2,955 jobs when compared to the 44,098 gross job losses for the same quarter. An additional 454 net businesses emerged when compared to the prior quarter, Labor Secretary Gabriel Maldonado-González said.

“The year 2022 was one in which private-sector employment continued to resurge through the creation of new jobs and expansion of operations in different industries,” he said.

“The BED collects important data that we have in real-time and that allows the reinforcement of strategies drawn up to increase the labor participation rate,” he said.

According to the report, during the second quarter of 2022, 47,053 jobs were created representing a decrease of 3,425 from the previous quarter. Of those jobs, 39,304 were attributed to expansions of establishments and 7,749 to new companies that opened in Puerto Rico.

From April to June 2022, gross job gains represented 6.5% of private sector employment.  Over the quarter, gross job gains at expanding establishments represented 5.4% of private sector employment, and gross job gains at opening establishments represented 1.1%.  

The BED reports are developed by the Labor Department, the U.S. Bureau of Labor Statistics and the U.S. Department of Labor based on the BLS Quarterly Census of Employment and Wages (QCEW) and include data related to private employers paying Unemployment Insurance. It also presents the net changes in terms of jobs and establishments in Puerto Rico by quarter.

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This story was written by our staff based on a press release.

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