In a live Facebook broadcast this morning, President Irfaan Ali announced that Guyana’s unemployment rate has significantly decreased over the four-year period from 2020 to 2024, and the trend continues downward.
Expressing his satisfaction, the President highlighted improvements in job availability, particularly among women and youth. He attributed the positive change to government policies that have bolstered various sectors, including infrastructure, forestry and fishing, tourism, and real estate.
“The fact is, our unemployment has reduced by more than 50% between 2020 and 2024. Notably, female unemployment has fallen from 14.4% to less than 9%,” President Ali stated, referencing data from the Bureau of Statistics.
According to the President, over 104,000 new jobs have been created in the last four years, with employment levels rising from 264,000 to nearly 370,000 by the last quarter of 2024. “This indicates that more people are entering the labor force because more jobs are available, and our economy is growing,” he added.
President Ali further emphasized that earnings across various sectors have also shown exponential growth since early 2020. “It’s not only employment that has improved; average earnings across all sectors have increased significantly,” he noted.
While acknowledging that unemployment still exists, he pointed out challenges in filling certain job vacancies. However, he reaffirmed that Guyana’s economy is uniquely diversified and experiencing unprecedented growth compared to other nations.
