Puerto Rico’s unemployment rate drops slightly
SAN JUAN, Puerto Rico (AP) — New statistics from the U.S. Labor Department show that Puerto Rico’s unemployment rate dropped slightly last month.
The agency released statistics Friday noting that the island of 3.6 million people had a 14.7 percent unemployment rate in March, down from 15 percent the previous month. That’s the lowest rate in the past six months.
The U.S. territory also saw its number of nonfarm payroll jobs increase to 930,400 from 928,700 in the past month. Overall, that is still nearly 5,000 less compared with March 2013.
Puerto Rico is struggling to boost its economy as it enters its eighth year of recession and faces $70 billion in public debt.