Puerto Rico’s jobless rate lowest in nearly 7 years
SAN JUAN, Puerto Rico (AP) — Puerto Rico’s unemployment rate has dropped to 11.6 percent, the lowest level in nearly seven years.
The U.S. territory of 3.7 million people has been struggling with a nearly decade-long economic slump that has prompted more than 200,000 people to leave the island in the past four years. The unemployment rate on the island remains far higher than the U.S. mainland’s 5.5 percent.
Puerto Rico’s Labor Department said Friday that the number of people employed increased by 11,000 people for a total of 1 million.
However the territory’s labor participation rate stands at 40 percent, compared with 63 percent in the U.S. mainland.