UNEMPLOYMENT DOWN TO 4.5% IN 3Q

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By 2017-01-10

By Mario Andree

Sri Lanka's unemployment rate declined to 4.5 per cent during the third quarter of last year from 4.6 per cent recorded during the second quarter and from 5.1 per cent for the same period of last year.
The Department of Census and Statistics highlighted that the economically active population was around 8.4 million in the third quarter 2016, out of which 63.5 per cent are males and 36.5 per cent are females. Out of the economically inactive population 24.6 per cent are males and 75.4 per cent are females.

Individuals engaged in the services sector declined to 46.1 per cent during the third quarter from 47.8 per cent in the second quarter, industries declined to 26.8 per cent from 27.1 per cent, while employment in agricultural sector rose to 27.1 per cent from 25.1 per cent.

Female unemployment across all age groups during third quarter of this year increased to 7.6 per cent from 7.3 per cent recorded during the second quarter of this year and 6.1 per cent recorded during the third quarter of last year.
Youth unemployment rate (age 15 – 24 years) for the third quarter of this year declined to 21.6 per cent from 22.2 per cent during the second quarter, and that reports the highest unemployment rate among all other age groups.

Further, unemployment rates for male and female were 15.7 per cent and 30.6 per cent respectively for the age group.
The highest unemployment rate was reported from the G.C.E (A/L) and above educated group at 9.3 per cent. Male unemployment in the educated group stood at 4.5 per cent, while female unemployment for the group was 13.9 per cent.
Unemployment rate of the country hovered around 4 per cent to 5 per cent range since 2011, with unemployment of males hovering between 2.5 per cent and 3.5 per cent, and female unemployment around 6 per cent to 7.5 per cent.

The government is aiming to create more than one million jobs during the next few years, with several industries planned.

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