Puerto Rico’s labor market is at a crossroad, with thousands of productive workers fleeing to the U.S. mainland in search of professional opportunities that may not be available locally.
Puerto Rico’s unemployment rate dropped to 13.7 percent in April, reaching the lowest level since 2008. However, Labor Department data released Thursday also shows that the island’s labor force decreased by 10,000 to 1.1 million last month, when compared to the prior month and by 31,000 year-over-year.
Puerto Rico’s unemployment rate showed a slight drop in February, settling at 14.5 percent, or 0.1 percentage points below the 14.6 percent the Labor Department reported for January.