Puerto Rico’s seasonally adjusted unemployment rate in January was 14.6 percent, representing a drop of 0.7 percentage points when compared to the same month last year, when it stood at 15.3 percent, Labor Secretary-designate Vance Thomas said Monday.
One of the greatest challenges economists are having during this downturn is that it is not a “traditional boom-bust cycle,” economist Heidie Calero said in the May edition of the “Puerto Rico Economic Pulse” monthly bulletin published by her firm H. Calero Consulting.
Labor Department statistics released over the weekend put Puerto Rico’s unemployment rate at 15 percent for the month of February, reflecting a 0.1 percentage point drop in comparison to the prior month’s level and a 1.2 percentage drop decrease from the 16.2 percent rate on record for February 2011.
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