Puerto Rico Unemplyment by the Numbers

Bureau of Labor Statistics From 2002 to 2012. A decade of double digit unemployment.

It's hard to fathom the weakness of an economy that would sustain a whole decade of greater than ten percent unemployment

What a crippling anchor for any economy to bear!  Just think of the lost productivity and GDP, it is crushing to imagine.

Yet, we wrestle (luchar) on.  It's been that way for so long, that it is hard to remember it ever being any different. 

This spreadsheet is courtesy of the Bureau of Labor Statistics, available here.

Analysis

So you say to your self, but surely Puerto Rico has had better times?  Sadly, since the Bureau of Labor Statistics began tracking and sharing unemployment in 1976, Puerto Rico has never had less than 10% unemployment. That's 36 years of double digit unemployment!


There are a lot of commentary, notes, and rationalizations for these high unemployment figures, but I'm not going to get into them.  I'd like you to just think about the systemic unemployment is in Puerto Rico that consistently leaves more than 10% of the workforce without a job. Unfortunately, unemployment is on the rise again.