Employment for the month of July totaled 947,600, a 2.6% increase compared to July 2022. This is the slowest increase since April 2021. On the other hand, the unemployment rate held at 6.2% in July. In the private sector, 20,100 jobs were created, a year-on-year increase of 2.8%, the smallest increase since the pandemic. Meanwhile,...Read More

Retail sales provide us with a snapshot of consumer spending and how the changes in consumer spending affect the different industries in the retail sector. When observing the recent month of May 2023 when compared year over year with May 2022 shows nominal growth in sales for 14 of the 18 industry categories, which totaled...Read More

Bankruptcy data holds a treasure trove of insights into Puerto Rico’s intricate financial and economic landscape. Delving into this data provides a window into the Island’s fiscal challenges, economic trends, and regulatory dynamics and unveils a narrative of resilience and adaptation among local businesses. It is a vital instrument, offering a panoramic view of the...Read More

The retail analysis of Puerto Rico’s economic landscape holds paramount importance, as it serves as a crucial indicator of our economy’s expansion. An increase in retail sales signals a robust and thriving economy, whereas a decline indicates the opposite. Examining the total retail sales for the period between April 2022 and April 2023, we observe...Read More

Inflation is a critical economic indicator that measures the rate at which prices for goods and services rise over time. Understanding the inflation rate is essential for policymakers, investors, and individuals alike, as it directly affects purchasing power and the overall health of an economy. In this article, we will delve into the inflation rate...Read More

The automotive industry in Puerto Rico serves as a vital economic indicator, reflecting consumer sentiment and overall economic health. In this article, we will analyze the month-over-month and year-over-year changes in new car sales, focusing on the most recent data available up until June 2023. Additionally, we will discuss the signs of a cooling trend...Read More

The latest report on the Coincident Indicators Index in Manufacturing (CIIM) sheds light on the current state of the manufacturing sector in Puerto Rico. Prepared by the Office of Strategy and Business Intelligence, the report covers May 2023 and reveals notable shifts in industrial activity specific to the island. This article will delve into the...Read More

Puerto Rico’s economy is displaying promising signs of growth. When examining the figures for total employment in 2021 and 2022, it shows that these numbers are on the rise. In Puerto Rico, there is a notable 6.7% increase in employment, from 843,810 employees to 900,650. Similarly, the average hourly salary experienced a 6.1% increase, going...Read More

Over the past decade, Puerto Rico has faced a significant decline in its level of economic activity, primarily attributed to economic depression and fiscal issues within the Commonwealth. The situation was further exacerbated by devastating hurricanes and the ongoing COVID-19 pandemic, which pushed the economy to an all-time low. However, since June 2020, Puerto Rico...Read More

According to the Labor Department of Puerto Rico, on average, Puerto Rico has around 900,000 employees per month, indicating a stable employment landscape. From January 2010 to May 2023, there has been a slight 1.1% increase in employment. The lowest point was in April 2020 with 768,000 employees, but it has since rebounded to normal...Read More