Unemployment remains low at 3%

By Zoila Palma Gonzalez: Preliminary results from the Statistical Institute of Belize’s latest Labour Force Survey (LFS) reveal that Belize’s unemployment rate stood at 3 percent in April 2024, marking a slight increase from 2.8 percent in the same period last year.

This marginal uptick is attributed to a decrease in the number of employed individuals by approximately 3,000 compared to April 2023, alongside an increase in the number of people exiting the labor force.

In April 2024, Belize’s total labor force was estimated at 170,853 individuals, with males constituting nearly 60 percent of this figure.

The labor force participation rate for the same period was 57.4 percent, a modest decline from 58.1 percent recorded in April 2023.

Gender disparities in labor force participation persist, with women showing a significantly lower rate at 44.8 percent compared to men at 71 percent.

This disparity underscores ongoing challenges for female participation, often attributed to domestic responsibilities and family care obligations.

Youth participation (ages 14 to 24) in the labor force was 42.3 percent in April 2024.

Gender differences among youth were notable, with 34.3 percent of young females participating compared to 50.3 percent of young males.

In addition, among adults (ages 25 and older), participation rates were notably higher for males, with 81.5 percent participating compared to 48.3 percent of females.

Labour force participation rates varied across districts in April 2024.

The Toledo district recorded the lowest participation rate at 41.4 percent, while the Belize district had the highest at 62.2 percent.

The SIB noted that educational attainment also influenced participation levels, with individuals holding tertiary education demonstrating the highest participation rates at 78.0 percent.

In contrast, those with only primary education had a participation rate of 48.3 percent.

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