News
Unemployment rate drops in July
The government says the island's unemployment rate fell from a month earlier in July as the local job market has now stabilised.
Figures show the nominal unemployment rate fell by 0.27 percentage points in July from June to stand at 4.53%.
After seasonal adjustments, the unemployment rate was 4.36%, down 0.4 percentage points from June.
According to the government, there were 11.364 million people employed in July, up 63,000 from a month earlier, with the service sector, which was hit hardest by the domestic coronavirus outbreak, registering the largest increase of 53,000.
The island's unemployment rate rose to 4.11% in May and spiked to 4.8% in June - the highest since November 2010, as the job market was negatively affected by the domestic coronavirus situation.
