President Irfaan Ali, this morning said the country’s unemployment rate has been significantly reduced during a four-year period between 2020 and 2024 and continues to be on the decline.  

In a live Facebook broadcast, the President said while it is now easier for persons to find jobs, he is particularly pleased with the reduction of the unemployment rate among women and youth.

He said Government policies, especially in certain sectors such as infrastructure, forestry and fishing, tourism, financial and insurance, real estate among others.

“The fact is, our unemployment reduced by more than 50% between 2020 and 2024, what is also important is the reduction of our female unemployment, our female unemployment rate reduced from 14.4% to less than 9%, these are the facts supported in the recent statistical bulletin of the Bureau of statistics,” the President said.

The President said according to statistics, more than 104,000 new persons gained employment over the past four years. He pointed out that unemployment rate is also fairly balanced across regions, which he says means jobs are being created throughout the country.

“So, persons employed move from 264,000 to almost 370,000 in the last quarter in 2024, that is more persons in the labour face because there are more jobs available and because the economy is growing,” the President said.

Additionally, the President said the earnings across various sectors have also increased and continues to attract a number of people.

“The average earnings across the major sectors also grew exponentially between the first quarter of 2020 and fourth quarter of 2024, so it is not just the employment that has improved, the average earnings across every sector have also improved drastically,” the President noted.

According to President Ali, while unemployment still exists, there is the issue of people not wanting to take up certain jobs. He noted however, that no other economy is more diversified and has seen growth like Guyana continues to experience.

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